Design software co Autodesk makes first Israeli acquisition

PlanPlatform develops software-as-a-service engineering programs.

Design software developer Autodesk (Nasdaq: ADSK) recently made its first acquisition of an Israeli start-up, buying PlanPlatform, better known under its previous name VisualTao.

Autdodesk paid $20-30 million for the company. The transaction, which occurred a few weeks ago, comes about six months after PlanPlatform completed its first funding round, raising $4 million from Sequoia Capital.

VisualTao was founded in 2007, and developed SaaS (software as a service) engineering programs. Making the software web-based allows greater cooperation between different teams working on the same product.

Autodesk is based in San Rafael, California.

Published by Globes [online], Israel business news - - on December 17, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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