CAD software giant Autodesk (ADSK +7.1%) shoots higher after announcing the acquisition of...

|By:, SA News Editor

CAD software giant Autodesk (ADSK +7.1%) shoots higher after announcing the acquisition of Horizontal Systems, a developer of cloud-based building modeling software. Canaccord thinks Autodesk's entry into the cloud software space will both increase its addressable market, and improve the predictability of its results (given cloud software sales tend to be subscription-based).