Wed 18th Dec 2002 | News
On Thursday December 12th, 2002, Discreet, a division of Autodesk Canada Inc., closed on a bid for several of the assets of the former London, U.K. company 5D Solutions Ltd. Discreet was one of several companies acquiring 5D’s assets which were turned over for sale to the appointed liquidator.
The liquidation of 5D Solutions Ltd. assets was triggered after 5D elected to close their worldwide offices on Friday, October 11th 2002. As part of their external communications, 5D also announced that it had terminated all remaining staff and that, due to financial difficulties, it would be liquidating the company’s assets.
During the liquidation process Discreet had discussions with several of the founding members of 5D interested in acquiring 5D’s key image-processing and plug-in technology through a newly created company known as Speedsix Software. As these technologies are of great value to many of Discreet’s customers, Discreet decided early to fully support Speedsix in their future endeavors. Given Discreet’s continuing interest in building and acquiring technologies that can improve their customers’ ability to create, Discreet has purchased some of the remaining technology assets.
Discreet did not have any interest in purchasing the 5D Solutions Ltd. business, but only selected assets that contained innovative technologies that were of strong interest for its own product development plans. These assets included technologies related to the former Cyborg and Commander products. Discreet is now evaluating the exact integration of these technologies into the Discreet product line.