GenArts has signed a definitive agreement to acquire SpeedSix Software. GenArts says that, as of yesterday, all SpeedSix employees will join the GenArts team and remain in the UK. In addition, SpeedSix's renowned Monsters and Raptors visual effects will be sold and supported in their current form alongside GenArts Sapphire.

According to GenArts, the acquisition is part of GenArts' aggressive growth strategy fueled by last year's investment from Insight Venture Partners of New York. CEO Katherine Hays took the reins in June, 2008 and announced her intent to accelerate the company's growth via acquisitions and strategic partnerships.

SpeedSix specializes in plug-ins for high-end visual effects systems from Assimliate, Autodesk, Avid, Eyeon and Quantel. The Monsters and Raptors plug-ins feature powerful tools including retiming, particle effects, lens distortion matching, fire, and organic fluid backgrounds.