Autodesk shares moved up $3.56, or 12 percent, to $32.38 Tuesday after signing a licensing deal to deploy Macrovision’s electronic licensing technology.
Macrovision (Nasdaq: MVSN) shares picked up $1.81 to $55.81.
In the release, company officials said Autodesk signed a licensing agreement for the worldwide deployment of Macrovision’s flagship electronic licensing technology, FLEXlm.
“We're pleased to have Autodesk on board with FLEXlm,” said Mark Belinsky, senior vice president of Macrovision’s GLOBEtrotter unit. “Autodesk's worldwide licensing of FLEXlm is yet another example of how software vendors are adopting electronic licensing as a key strategy -- and how the industry has chosen FLEXlm as its de facto standard.”
According to market researcher International Data Corp, over 50 percent of software revenue will be delivered using electronic licensing by 2003, and virtually all software revenues will be derived from electronic licensing by 2008. Software vendors have to date shipped over $40 billion worth of software using the FLEXlm electronic licensing technology.
Last quarter, Autodesk hurdled analysts’ estimates when it posted a profit of $21.9 million, or 38 cents a share, on sales of $221.8 million.
First Call Corp. consensus expects it to earn 52 cents a share in its fourth quarter.
Autodesk shares peaked at $56.06 in March before falling to a 52-week low of $19.44 in July.
Seven of the eight analysts tracking the stock maintain “buy” recommendations.
