* Deal to hurt Q3 EPS by 6 cents
* Acquisition to close in August-October quarter
July 17 Design-software maker Autodesk Inc
will buy video sharing service Socialcam for about $60
million as it looks to beef up its social media line-up.
Autodesk, which makes the AutoCAD design software for
architects and designers, said the deal is expected to lower its
third-quarter earnings by about 6 cents per share.
The Socialcam application helps users shoot, edit and share
videos using their mobile phones.
The company said that the app, available for both Apple
Inc's iOS and Google Inc's Android platforms,
has been downloaded more than 16 million times since its launch
"Mobile computing, the cloud and social media are improving
and changing the way people design, engineer and create
projects," Samir Hanna, vice president at Autodesk Consumer
He said the addition of video capabilities will allow users
to communicate and share design ideas.
Last year, Autodesk bought online photo editing and sharing
service Pixlr for an undisclosed price.
The company, which competes with Adobe Systems Inc,
said it expects the deal to close in the August-October quarter.
In April, Facebook Inc bought Instagram, a
two-year-old photo-sharing application developer, for $1
billion, just months before the No. 1 social media website went
Shares of the San Rafael, California-based Autodesk were
trading flat at $31.51 on the Nasdaq on Tuesday.