Stockholm-based Volvo Technology Transfer and Industrifonden have sold Illumuniate Labs to Autodesk. Illuminate Labs develops advanced lighting and illumination technology for video games. Illuminate Labs will be part of Autodesk Media & Entertainment and continue its operations in Gothenburg. All employees in the company are being offered a new position within Autodesk, a statement said. Financial terms were not announced.
Volvo Technology Transfer and Industrifonden have sold the portfolio company Illuminate Labs to the US CAD company Autodesk. Illuminate Labs develops advanced lighting and illumination technology for computer games.
After the sale, Illuminate Labs will be part of Autodesk Media & Entertainment and continue its operations in Gothenburg. All employees in the company are being offered a new position within Autodesk.
“We are proud to have contributed to the development of Illuminate Labs into a world-leading company in its field,” says Ulrika N. Everingham, Investment Director at VTT. “Autodesk’s acquisition of Illuminate Labs is confirmation of the company’s niche expertise and business acumen.”
Illuminate Labs has developed two solutions that in just a couple of years have become a proven technology for illumination in games. They enable more rapid repetition of a game’s creative intentions and give games a more realistic lighting.
“Together with the team at Illuminate Labs, Industrifonden and Volvo Technology Transfer show how the combination of expertise and development capital can create successful companies,” says Dan Ekelund, Investment Manager at Industrifonden.
September 6, 2010
About Volvo Technology Transfer
Volvo Technology Transfer AB focuses on developing and supporting new businesses relevant to the Volvo Group. Part of this effort is to invest in companies and projects that are technologically and commercially attractive. The company also supports the development of entrepreneurship and innovation within Volvo.
Industrifonden (www.industrifonden.se) offers venture capital, competence and a network of contacts to Swedish growth companies in most sectors. Industrifonden offers two types of capital: development capital to small technology companies and expansion capital to more mature companies that want to grow. The fund has assets of SEK 2.9 billion, of which SEK 1.6 billion are invested in about one hundred companies in technology, cleantech, life science and industry.
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