Autodesk 2010 Annual Report Download - page 184

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AUTODESK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Softimage
In November 2008, Autodesk acquired Softimage, based in Montreal, Canada. The Softimage acquisition
provided technology for the film, television and games markets. Autodesk acquired Softimage for approximately
$35.1 million cash. Autodesk incorporated Softimage into Autodesk’s M&E segment.
Developed technologies (3 year useful life) .......................................... $ 4.0
Customer relationships (5 year useful life) .......................................... 4.8
Trade name (4 year useful life) ................................................... 1.0
In-process research and development .............................................. 5.0
Goodwill ..................................................................... —
Net tangible assets ............................................................. (0.7)
$14.1
In-process research and development represents incomplete research and development projects that had not
reached technological feasibility and had no alternative future use as of the acquisition date. Total in-process
research and development related to Softimage of $5.0 million was expensed to research and development during
fiscal 2009 on the Consolidated Statement of Operations.
Customer relationships represent the underlying relationships and agreements with Softimage’s existing
customers. Trade name represents the estimated fair value of Softimage’s trade name and trademarks. The $21.0
million of goodwill associated with the acquisition of substantially all the assets of Softimage was written off in
the first quarter of fiscal 2010. See Note 1, “Business and Summary of Significant Accounting Policies” for
further discussion of this impairment.
ALGOR
In January 2009, Autodesk acquired ALGOR, Inc. (“ALGOR”), based in Pittsburgh, Pennsylvania. The
ALGOR acquisition provided analysis and simulation tools that help mechanical engineers make products at a
lower cost. The acquisition is expected to strengthen the Autodesk solution for digital prototyping with new
advanced simulation functionality, including multiphysics, mechanical event simulation and fluid flow. Autodesk
acquired ALGOR for approximately $30.4 million cash, net of cash acquired. Autodesk incorporated ALGOR
into Autodesk’s MFG segment.
Developed technologies (5 year useful life) .......................................... $ 6.5
Customer relationships (7 year useful life) .......................................... 7.3
Trade name (7 year useful life) ................................................... 1.1
In-process research and development .............................................. 3.9
Goodwill ..................................................................... 16.6
Deferred revenue .............................................................. (1.3)
Deferred tax assets ............................................................. 1.3
Deferred tax liabilities .......................................................... (3.9)
Net tangible assets ............................................................. 3.2
$34.7
In-process research and development represents incomplete research and development projects that had not
reached technological feasibility and had no alternative future use as of the acquisition date. Total in-process
research and development related to ALGOR of $3.9 million was expensed to research and development during
fiscal 2009 on the Consolidated Statement of Operations.
90