Employees acquire CoCreate

CoCreate Software has been purchased by its employees and an international investment group consisting of independent financial investors 3i PLC and the Triton Fund. The purchase contract is subject to regulatory agency approval. Terms of the transaction were not disclosed.

CoCreate Software was established as a subsidiary of Hewlett-Packard Company in 1996 to enable it to become an independent software company. Prior to its establishment as a subsidiary, CoCreate had been HP’s Mechanical Design Division since 1984.

The company’s collaboration technology, OneSpace, gives users access to a CAD-independent, 3-D collaboration solution, enabling all members of a mechanical-design team to interact with geometric models in real time over the Internet. Using OneSpace, participants on computers around the world can view, manipulate and annotate a solid model in a virtual conference room.

More information about CoCreate Software and its products is available on the web at http://www.cocreate.com.