Autodesk has announced that they are acquiring video focused social sharing service Socialcam.
The deal is worth around USD 60 million.
Socialcam provide mobile apps to let user record and share videos on the move. It has been called the Instagram of video.
The app is available for both iOS and Android devices.
Autodesk said that they would boost the infrastructure supporting the Socialcam platform. It is not clear what they aim to do with the technologies gained from this deal in the future.