The India-based group will be integrated into Dassault global R&D.
Dassault Systèmes has acquired full ownership of 3DPLM, the research and development group created in 2002 as a joint venture between Dassault and Geometric Ltd. of India. Dassault says the team of more than 2,000 employees will become a fully integrated part of Dassault Systèmes’ global R&D for product lifecycle management (PLM) and related disciplines.
The transaction is part of a larger plan in which Geometric’s business is being transferred to HCL Technologies Ltd, while simultaneously merging Geometric Ltd. into 3DPLM. The end result is 100% ownership of 3DPLM by Dassault Systèmes. The transaction is being undertaken through a court-approved scheme which is subject to various levels of statutory and stakeholder approvals.
In exchange for the ownership in 3DPLM, shareholders of Geometric Ltd. will receive one listed redeemable preference share in 3DPLM against every one share of Geometric Ltd., with a 7% preferential dividend. Closing is expected to take place during the fourth quarter of 2016.
Because the expenses and assets related to 3DPLM are already consolidated in Dassault Systèmes financial statements, the company says the closing of this transaction will be neutral on its revenue and expenses.
“Throughout our 14-year partnership with Geometric, we have together developed competitive R&D at 3DPLM with dedicated and passionate people, which have become important assets for our global R&D. We thank Geometric management for their sustained support,” says Dominique Florack, Senior Executive Vice President, Research Development, Dassault Systèmes. “The full integration of 3DPLM into Dassault Systèmes is the result of this continuous investment and very successful partnership and also marks the next phase in the contribution of 3DPLM in our global R&D and strategic 3D Experience platform journey.”