Riverside Picks Up Terrain Software TerraSim
Private equity firm the Riverside Co. has purchased terrain software TerraSim Inc. to add to Bohemia Interactive Simulations s.r.o.
Australia-based Bohemia develops and provides games for training and interactive simulation systems for defense, emergency and other customers. The games are used for tactical training and mission rehearsal scenarios.
TerraSim, headquartered in Pittsburgh, develops automated terrain generation software, which Bohemia expects to enhance its services.
Bohemia was considering buying TerraSim even before it was bought by Riverside in January, says Bohemia chief executive Pete Morrison.
Lape Mansfield & Nakasian LLC and McGladrey LLP advised Riverside on the deal.
The firm focuses on buying companies that are valued up to $250M. Since it was founded in 1988, the company has invested in more than 300 companies. The firm was named Mergers & Acquisitions Private Equity Firm of the Year for 2012.
In January, Riverside acquired Operating Tax Systems LLC, a provider of vehicle compliance services, and in November bought Digital University, an online bank and credit union regulatory-compliance training tool.