Dassault Systèmes has acquired software developer Exa Corp. (Nasdaq: EXA) for approximately $400 million. The deal is expected to result in enhanced 3D technologies for the combined company’s design, engineering, modeling, simulation, and data and process management efforts.
Founded in 1991, Exa distributes simulation software and related support services primarily for vehicle, aerospace and technology providers. The Burlington, Massachusetts-based company engineers software used to “solve the most challenging fluids problems faster and more accurately than traditional methods for aerodynamics, aeroacoustics, thermal management and other fluid-related” needs, according to Exa CEO Stephen Remondi. The target’s portfolio of branded simulation software includes PowerFlow, PowerTherm, PowerDelta, PowerInsight, PowerAcoustics and PowerCool.
Waltham, Massachusetts-based Dassault Systemes is also a software developer. The deal for Exa brings a list of customers that include: BMW, Tesla Inc. (Nasdaq: TSLA), Toyota Motor Corp. (NYSE: TM), National Aeronautics and Space Administration, Embraer SA (NYSE: ERJ) and British Petroleum. With the addition of Exa, the buyer’s 3DExperience software product will be enhanced with a portfolio of Lattice Boltzmann fluid simulation technologies.
The Exa deal is expected to close in the fourth quarter of 2017. Foros is acting as financial adviser to Dessault Systèmes, while Shearman & Sterling LLP is serving as legal counsel.
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