SAN RAFAEL, Calif. (AP) -- Computer-aided design software company Autodesk Inc. said Thursday that it will buy industrial software company Moldflow Corp. for $22 per share in cash.

 

San Rafael, Calif.-based Autodesk said it will pay $297 million minus Moldflow's cash balance and proceeds from exercising options.

 

Framingham, Mass.-based Moldflow makes software that allows designers to predict how plastic components will perform during the manufacturing process. It had revenue of $55.9 million in fiscal 2007, Autodesk said.

 

The deal is expected to close in the second calendar quarter of 2008.

 

The company expects the transaction to reduce earnings by 7 cents to 8 cents per share in its fiscal second quarter, which ends in July. Adjusted earnings should be reduced by a penny to 2 cents per share in the quarter, Autodesk said.

 

For the full fiscal year, the company expects the deal to decrease earnings by 10 cents per share.

 

Shares of Autodesk rose $1.31, or 3.5 percent, to close at $39.31. In aftermarket activity, the stock fell 93 cents, or 2.3 percent, to $38.38.