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.
Bocad provides a suite of applications for the design, detailing and assembly of structural steel and other materials, which AVEVA believes directly compliments its own 3D software.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
NR
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
