Hey....if anyone is interested!
******************************************************************************
********************
CONCORD, Mass., June 24 (Reuter) - Dassault Systemes SA and SolidWorks said
on Tuesday they entered an agreement for Dassault to acquire SolidWorks for
4.85 million Dassault shares, in a deal valued at $310 million.
SolidWorks develops and markets 3D mechanical design solutions for the
Windows platform and is expected to have annualized revenues of $25 million
based on results expected for the quarter ending June 30, 1997, the companies
said in a joint statement.
Dassault Systemes expects the deal to be "less than five percent dilutive to
earnings in the second half of 1997, and to be non-dilutive in 1998."
The deal is expected to be "a significant contributor to earnings growth
thereafter," Dassault said.
Dassault and SolidWorks expect the deal to be completed in the 1997 third
quarter, pending regulatory and shareholder approvals.
SolidWorks will operate as a separate subsidiary of Dassault Systemes with
its current management team.
The companies said SolidWorks has significant growth potential because of
increased demand by engineers for its modeling capabilities with ease of use,
as well as affordability.
17:34 06-24-97
This archive was generated by hypermail 2.1.2 : Tue Jun 05 2001 - 22:39:46 EEST