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Electronics Production |

Dassault Systèmes to acquire Exa Corp.

Dassault Systèmes has signed a definite merger agreement to acquire Burlington, Massachusetts-based Exa Corporation, specialising in simulation software for product engineering.

Under the terms of the merger agreement, unanimously approved by Exa’s Board of Directors, a subsidiary of Dassault Systèmes will commence a tender offer to acquire all of the issued and outstanding shares of Exa common stock for a price of USD 24.25 per share payable in cash upon completion of the offer. This represents a fully diluted equity value for Exa of approximately USD 400 million. Exa’s fiscal year ended January 31, 2017 and its revenue was USD 72 million. Exa’s software is used by designers and engineers at companies in transportation and mobility, as well as aerospace and defense, natural resources, and others to evaluate highly dynamic fluid flow throughout the design process. Customers include BMW, Tesla, Toyota, NASA, Embraer, British Petroleum, and others. Nearly every transportation and mobility manufacturer uses Exa’s solutions to simulate aerodynamic flow, aeroacoustics, and thermal management. Simulation of fluid flow, such as the cooling of an engine or the lift of a wing, is a necessary component of simulating the physical behaviour of products, nature and life. For the many situations where fluid flow conditions change rapidly, simulation of dynamically variable flows is critical to accurate assessments of a product and its behaviour in its environment. For these applications, the combination of Exa’s accuracy and timeliness provides results that are superior to those of alternative fluid simulation methods. “Both Dassault Systèmes and Exa believe in the value of an integrated focus on science and industry. It is a critical part of our commitment to delivering 3DEXPERIENCE universes that harmonize products, nature and life. Simulation of dynamic fluid flow is an important part of our multiphysics and multiscale simulation strategy,” said Bernard Charlès, Vice Chairman and CEO, Dassault Systèmes. “With Exa’s valuable application knowledge in transportation and mobility and other industry verticals, we will accelerate our delivery of industry solution experiences to benefit our existing and future customers.” “Exa’s proven Lattice Boltzmann simulation technologies and extensive professional and industrial expertise are why we’ve been successful in leading the highly dynamic flow simulation market,” said Stephen Remondi, President and Chief Executive Officer of Exa Corporation. “Becoming part of Dassault Systèmes’ 3DEXPERIENCE platform and SIMULIA portfolio will bring enormous value to our customers in all industries.” Completion of the transaction is expected in the fourth quarter of 2017, subject to the satisfaction of customary closing conditions, including required regulatory approvals.

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March 28 2024 10:16 am V22.4.20-1
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