SANTA ANA, Calif., March 31 /PRNewswire-FirstCall/ -- MSC.Software Corp. (OTC: MNSC), the leading global provider of enterprise simulation solutions including simulation software and services, today announced that it has sold its PLM product reseller and services business to TechniGraphics, Inc., a leading professional consulting and technical software reseller, based in Wooster, Ohio. The financial terms of the transaction are not being disclosed at this time.
"Upon the closing of this transaction, we will have successfully completed the divestitures of the non-strategic components of our business," said Bill Weyand, chairmen and CEO, MSC.Software. "The sale of our PLM business is the final step to improve our focus as an enterprise software company, while at the same time improve our business execution and positively impact our operating margins."
"With the acquisition of certain assets of MSC's PLM business, we have taken a very large step in our diversification strategy," said Dee Vaidya, President and CEO, TechniGraphics. "We will be able to respond to the demand for best-in-class PLM solutions and accelerate our expansion in the North American Engineering and Rapid Prototyping Services markets. We are pleased to be able to grow quickly in this segment."
About MSC.Software Corporation
MSC.Software (OTC: MNSC) is the leading global provider of virtual product development solutions, including simulation software and services, that helps companies make money, save time and reduce costs associated with designing and testing manufactured products. MSC.Software works with thousands of companies in hundreds of industries to develop better products faster by utilizing information technology, software, services and systems. MSC.Software employs more than 1200 people in 23 countries. For additional information about MSC.Software's products and services, please visit www.mscsoftware.com.
TechniGraphics is in the business of helping the world "visualize its business" by providing a full array of database services and software designed to make information visually accessible. With particular emphasis on Geospatial Intelligence Services (GIS), the company helps large organizations access powerful databases graphically. At TechniGraphics, we believe "Seeing is Understanding." For more information visit: www.tgstech.com.
The MSC.Software Corporate Logo, MSC, Adams, Dytran, Easy5, Marc, MD Nastran, MSC Nastran, Patran and Sofy are trademarks or registered trademarks of MSC.Software Corporation in the USA and/or other countries. NASTRAN is a registered trademark of NASA. All other trademarks belong to their respective owners.
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Email Contact, both of MSC.Software Corp.