IBM has confirmed its intention to acquire EADS Matra Datavision, a wholly owned subsidiary of the European aerospace and defence group EADS.
The price of the transaction was not disclosed but Reuters reports have put the value of the deal between 50 and 100 million Euros.
The transaction, subject to approval from regulatory authorities and consultation with internal work councils, is expected to be completed in the fourth quarter and take effect by January 1, 2003 at which time EADS Matra Datavision will become part of IBM.
EADS Matra Datavision has been IBM’s Product Lifecycle Management (PLM) business partner since establishing an alliance with IBM in 1998, distributing and providing integration services for IBM PLM’s CATIA, ENOVIA and SMARTEAM product development and data management applications.
EADS Matra Datavision employs over 800 engineers and consultants in Europe and North America.