Tinkercad is joining the growing Autodesk family, as the global leader in 3D design software for manufacturing, engineering and construction has announced it will be acquiring the assets of the cloud-based 3D design and printing firm.
The deal aims to revive the flagging Tinkercad business, despite a previously announced closedown.
Autodesk has revealed that the deal will close in 30 days and the terms have not been revealed, although the company did disclose that it will incorporate elements of Tinkercad technology and user experience into its popular 123D Catch product portfolio, which transforms pictures into 3D models, furthering its goal to make 3D design easier and more accessible to the public.
When the California-headquartered company announced its acquisition plans, it revealed it had revived the Tinkercad website instantly, enabling new users to sign up for the cloud-based service.
All existing free accounts have been upgraded to the new plan, while this new account is being offered for a limited time only to those looking to sign up.
Kai Backman, Founder and Chief Executive Officer of San Francisco-based Tinkercad said he and his colleagues are "excited to have reached an agreement with Autodesk that will provide a solid home and bright future for Tinkercad".
He stated: "We found in Autodesk a shared vision for empowering students, makers and designers with accessible and easy-to-use software, and with their global reach and expertise in democratising design, we're confident in their ability to introduce Tinkercad to new audiences around the world."
Backman announced in March that the Tinkercad website would be shutting down completely by the end of June 2014 in order to lend more resources to a new simulation product focused on the product design and engineering side of the market called AirStone.
Autodesk has stated that the deal will not impact on its fiscal 2014 revenue guidance, which anticipates a three per cent rise in sales from fiscal 2013's $2.3 billion (£1.5 billion, €1.8 billion).
Earlier this month, Autodesk posted adjusted earnings per share of $0.42, undercutting analysts' expectations by $0.03. Moreover, revenue for the January-March 2013 period was down by three per cent to $570 million.