Dassault Systemes buys Quintiq
PARIS (The Deal) -- French design and process management software maker Dassault Systemes SA has agreed to pay 250 million euros ($337 million) for Quintiq, a maker of production and supply-chain management software for the metals, mining and oil and gas sectors.
Quintiq, which is based in s-Hertogenbosch, Netherlands, is controlled by its senior management and led by co-founder and CEO Victor Allis. The business was founded in 1997 by five computer engineers and has made a profit every year since its inception.
Dassault said Quintiq will add product lines and "provides a new reach into industries such as metals, mining, oil & gas, rail, delivery and freight."
The acquisition it the latest in a series of bolt-on deals struck by Dassault to gain access to new technology and industries. The French company has agreed to more than $2.25 billion of acquisitions in the past five years, including January's $750 million agreed takeover of San Diego-based Accelrys Inc., a maker of software used in chemical and biological product life cycle management.The acquisition of Quintiq was announced on the same day that Dassault revealed second-quarter revenue of 570 million euros, up 9% on the same quarter last year, and reaffirmed its full-year targets. Quintiq has about 800 employees. Its software is used by industrial and manufacturing companies including arms maker BAE Systems plc, Deutsche Post AG logistics company DHL Express, cement maker Lafarge SA, and metals manufacturers ArcelorMittal and Aluminum Corp. of China Ltd. Dassault will buy Quintiq through its Dutch subsidiary Dassault Systemes BV. The deal is subject to customary closing conditions, including antitrust clearances in Germany and Austria.
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