Autodesk spins off LBS business

Autodesk spins off LBS business
As part of a restructuring plan announced this week, Autodesk has signed a definitive agreement to spin out its Location Services business to Hale Capital Partners, a private equity firm.

In a press release Autodesk stated, “[it] believes this move will help position the Location Services business for greater success in the wireless industry, while allowing Autodesk to focus its on its core business”. Details of the transaction were not disclosed.

Autodesk offers a location platform called LocationLogic and is working with wireless operators such as Sprint, Verizon Wireless and Telecom Italia Mobile and many start-up companies - Socialight, Orbster, SmarterAgent, to name a few - to power their applications.

Friday, January 16th 2009

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