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Geometric signs agreement with Dassault Systèmes to integrate DELMIA’s India Laboratory with 3DPLM Software Solutions Ltd
Mumbai, India, November 9, 2010: Geometric Limited (BSE: 532312, NSE: GEOMETRIC), a specialist in PLM, Engineering Services, and Offshore Product Development solutions and technologies today signed an agreement with Dassault Systèmes to integrate DELMIA’s India Laboratory into 3D PLM Software Solutions Ltd (3DPLM), their joint venture company.
Pursuant to the agreement, the holding company of DELMIA India is planned to be merged within 3DPLM. As a result of the merger, Dassault Systèmes ownership in 3DPLM will increase to 42% from 30%. The completion of the transaction is subject to receipt of regulatory approvals. The transaction is expected to be EPS neutral for Geometric in the first year. DELMIA India would be operated as a separate subsidiary of 3DPLM for the next two years.
Mr. Ravishankar G, MD & CEO, Geometric Limited commented, “As a shareholder of 3DPLM, we are very pleased with the decision of Dassault Systèmes to combine their R&D activities under our joint venture 3D PLM Software Solutions and we look forward to 3DPLM’s continued growth”.
Mr. Shashank Patkar, CEO, 3DPLM said, “We are very pleased by the faith shown by Dassault Systèmes in our capability. This transaction is a testament of the caliber of the work we do and the speed with which we have become a part of Dassault Systèmes R&D ecosystem”
Geometric ( www.geometricglobal.com) is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services and Digital Technology solutions for Product Lifecycle Management (PLM) enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.
Headquartered in Mumbai, India, Geometric was incorporated in 1994 and is listed on the Bombay and National Stock Exchanges. The company recorded consolidated revenues of Rupees 5.12 billion (US Dollars 108.1 million) for the year ended March 2010. It employs close to 3000 people across 11 global delivery locations in the US, France, Romania, India, and China. Geometric was assessed as CMMI 1.1 Level 5 for its software services and is ISO 9001:2008 certified for engineering operations.
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