By Sam Boughedda
Investing.com — Software company Autodesk Inc (NASDAQ:ADSK) has acquired New Zealand-based Moxion, the company announced Wednesday.
Autodesk shares are up over 1% on the news.
Moxion is a developer of a cloud-based platform for digital dailies used by filmmakers on productions, including "The Midnight Sky," "The Marvelous Mrs. Maisel," and "The Matrix Resurrections."
Autodesk said the deal will expand its own cloud platform for media and entertainment and will help them move beyond post-production into on-set production.
The acquisition, which closed during Autodesk's fourth quarter of fiscal 2022, follows on from Autodesk's purchase of cloud-based estimating company ProEst, in December.
"As the content demand continues to boom with pressure on creators to do more for less, this acquisition helps us facilitate broader collaboration and communication, and drive greater efficiencies in the production process, saving time and money," said Diana Colella, SVP of Media & Entertainment for Autodesk. "Moxion accelerates our vision for production in the cloud, building on our recent acquisition of Tangent Labs."