Bombay, India. January 23, 2002 – Geometric Software Solutions Co. Ltd. (Geometric), a specialist in Product Lifecycle Management (PLM) software development and Dassault Systemes (Nasdaq: DASTY; Euronext Paris: #13065, DSY.PA) the world’s leading provider of 3D PLM solutions, today announced the signing of a Joint Venture, resulting in the formation of a new company. <br/>
The new company, to be named 3D PLM Software Ltd. will be held by Geometric and Dassault Systemes at 70 and 30 per cent respectively. Importantly, 3D PLM Software Ltd. will start operations with a mandate of software development for the Dassault Systemes’ group, thereby allowing the new company to begin operations from day one. <br/>
Manu Parpia, Managing Director, Geometric, will, in addition to his current role, steer 3D PLM Software Ltd. as its Managing Director. Speaking on the occasion, he said, “We believe this joint venture step reinforces our strategy to build expertise in the PLM space, while seeking to build alliances with market leaders. After a satisfying association with two Dassault Systemes’ group companies, we are pleased to now extend Geometric’s capabilities across the Dassault Systemes’ group.”
Bruno Latchague, Executive V.P. R&D, Dassault Systemes, said, “Geometric has greatly contributed to the success of different brands in the Dassault Systemes’ group through an outstanding partnership. The creation of 3D PLM Software Ltd. is the natural next step in this partnership, extending our global company to leverage the technical expertise Geometric has proven it can deliver to the Dassault Systemes’ group. 3D PLM Software Ltd. will increase our R&D capacity by bringing dedicated and focused skills and resources.” 3D PLM Software Ltd. will function as a virtual extension of Dassault Systemes’ R&D team, developing in a single distributed environment within the Dassault Systemes’ extended enterprise.<br/>
Geometric has launched fresh recruitment initiatives to attract IT professionals. Manu Parpia added: “We believe this joint venture presents an exciting opportunity for Indian IT talent to work with a premier PLM company, to develop truly world class software solutions.” <br/>
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