AVEVA, the engineering software provider, has acquired the Bocad group of companies, significantly strengthening its three-dimensional (3D) structural detailing capabilities for the plant, marine and fabrication markets.
The €17.5m (£14m) purchase was made on a debt free/cash free basis which has been settled from existing cash resources.
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Richard Longdon, Chief Executive of AVEVA said: "This acquisition further extends AVEVA's position in the Engineering & Design market providing the most comprehensive 3D design software for plant and marine."
According to AVEVA's statement: "the combination creates a unique end-to-end offering for engineering design, as well as adding best-in-class structural detailing functionality to the AVEVA Engineering & Design product portfolio."
The acquisition brings with it 90 structural professionals who develop, distribute and support the Bocad products. Bocad has offices in Belgium, Germany, Malaysia, Canada and France and has a worldwide user base in Oil & Gas, Power, Marine and Fabrication markets.
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