Autodesk announced today that it signed a definitive agreement to acquire Socialcam for approximately $60 million. The transaction is expected to close by October 31 this year and is subject to customary closing conditions.

Socialcam is a Facebook and mobile app that allows users to create, edit and share videos. It is currently the largest Facebook-connected app with 54,700,000 MAU according to AppData. It also ranks No. 38 on AppData’s Top Free Apps on iOS and No. 5 on Top Free Apps Photography Genre in the U.S. The app saw a sharp rise in traffic in mid-April due to its viral sharing mechanics and requirement that users authorize it in order to watch a video, though some critics pointed out traffic was also being drawn in with popular YouTube videos marketed as user-generated content in a Socialcam wrapper.

Autodesk is known for its design software such as Maya, SketchBook and Pixlr.

This acquisition follows Facebook’s pending acquisition of Instagram for $1 Billion in early April and a heightened interest in startups and apps that allow users to create and share video and images on mobile devices. TechCrunch also reported in late April that Socialcam raised a round of seed funding from several well known investors such as Ashton Kutcher, Tim Draper and Yuri Milner.