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Autodesk closes on acquisition of PI-VR

SAN RAFAEL, Calif. (AP) -- Autodesk has completed its buyout of privately held German software company PI-VR, a deal designed to broaden its work for the automobile industry.

Financial terms were not disclosed.

Autodesk Inc. develops computer-aided manufacturing software used by designers, engineers in industries such as manufacturing, architecture, building and construction. It's also used in in digital entertainment, such as visual effects in movies.

"This acquisition brings to Autodesk a highly-skilled team with deep expertise in high-end visualization that will help expand our offerings for the automotive industry," Buzz Kross, senior vice president of design, lifecycle and simulation at Autodesk, said in a statement.

The San Rafael, Calif.-based company's stock shed 5 cents to $36.04 in late morning trading on Tuesday. Its shares have traded in a 52-week range of 27.70 to $42.69.