Dassault SystÃ¨mes has announced the signing of an agreement whereby Dassault SystÃ¨mes plans to acquire the 3D software components business of Spatial for $21.5 million in cash.
The 3D software component business of Spatial will become part of a new wholly-owned subsidiary of Dassault SystÃ¨mes, which will retain the Spatial name. Michael Payne, current CTO of Dassault SystÃ¨mes, will become the CEO of this new subsidiary, and Dick Sowar, CTO and Chairman of Spatial, will continue in his leadership role in the new company.
The acqusitition will be slightly dilutive to Dassault SystÃ¨mes’ earnings per share.
The portions of the current Spatial company that are not in the 3D software components business will assume the company name PlanetCAD, Inc. PlanetCAD, Inc. will continue to execute on its Internet strategy, focused on its PlanetCAD.com Web portal targeted at manufacturing and design engineers.
Dassault SystÃ¨mes will be a strategic provider of 3D software components for PlanetCAD and PlanetCAD will provide Web services and technologies to the extended Dassault SystÃ¨mes enterprise.
Information about Dassault SystÃ¨mes is available at http://www.dsweb.com.
Information about Spatial is available at http://www.Spatial.com