Showtime for Autodesk

today announced that it has signed a definitive agreement to acquire the assets of

, a developer of colour correction technology for film studios and digital film laboratories, for $15 million.

According to a statement, the acquisition will bring new expertise in film laboratory processes, digital post-production, colour science, image processing and hardware platform optimisation to Autodesk.

Colorfront, a privately held company based in Budapest, Hungary, worked with Autodesk to co-develop the Discreet Lustre digital colour grading system. Introduced in April 2003, the Lustre system has been used on feature films such as The Polar Express, The Phantom of the Opera and Pirates of the Caribbean. Colorfront's product portfolio also includes colour correction plug-ins for Autodesk's Discreet systems.

"Autodesk is committed to providing industry leading tools that empower all content creators to better realise their ideas,” said Martin Vann, vice president of Worldwide Sales, Marketing and Support for Autodesk's Media and Entertainment Division.

Vann added: “The acquisition of Colorfront underscores this commitment and is a key component of our film strategy to provide a full suite of integrated end-to-end solutions for everything from pre-visualisation through to distribution.”

Colorfront employees will continue their R&D activities in

, as part of Autodesk Hungary Kft. The transaction is currently expected to close in the next 45 days, and is expected to be neutral to Autodesk's earnings in fiscal year 2006.