Dassault Systèmes Completes the Acquisition of ABAQUS Inc. and Introduces the SIMULIA Brand
SIMULIA to create next-generation solutions for realistic 3D simulation
Paris, France, October 4, 2005 - Dassault Systèmes (DS) (Nasdaq: DASTY; Euronext Paris: #13065, DSY.PA) today announced the completion of the acquisition of ABAQUS Inc., the established leader in advanced finite element analysis software. The all-cash purchase price was $413 million, before reflecting cash balances and estimated tax benefits. DS also announced that SIMULIA will be a new brand in its portfolio.
Bernard Charlès, President and CEO of Dassault Systèmes, stated, "Our customers’ priority is to integrate and expand the scope of realistic simulation, in order to implement reliable and efficient workflow. Our investment in ABAQUS, as well as SIMULIA, our unified multi-physics simulation platform, enables us to offer the benefits of realistic 3D simulation to a very broad audience. Over a five-month integration period we have become well-acquainted with the impressive team of people working at ABAQUS, and are pleased to welcome them into the DS family. Mark Goldstein, currently CEO of ABAQUS, will expand his role to lead the overall SIMULIA portfolio, becoming the CEO of the new brand."
Mark Goldstein added, "We are excited about the SIMULIA vision and the opportunities ahead of us with our colleagues at Dassault Systèmes. The simulation market is a vibrant one, with significant growth opportunities, as simulation is now playing an increasingly important role across multiple industry sectors. With the expanded resources now available to us, our goals are straightforward: establish ABAQUS as the undisputed market leader in finite element analysis; integrate all DS-related solutions within SIMULIA; and expand our realistic simulation ecosystem to address broad customer demands, beyond manufacturing industry sectors
Dassault Systèmes also confirmed that it will provide fourth-quarter 2005 and initial 2006 financial objectives, incorporating ABAQUS, at the time of its third-quarter financial results, scheduled for October 25, 2005.