Plus   Neg

Dassault Systèmes Agrees To Buy Privately Held Centric Software

Dassault Systèmes (DASTY.PK) announced Thursday that it has entered into a definitive agreement to acquire a majority stake in Centric Software, a privately-owned provider of digital transformation with software innovation in the fashion, apparel, luxury and retail sectors.

Under the terms, Dassault will acquire for cash a majority ownership of Centric Software. It will be comprised between 58 and 69 percent depending on the Centric Software shareholders' election. The company will make an advance payment on the acquisition of the remainder of the shares, which will take place in 2020 and 2021.

The total consideration for the acquisition of Centric Software's total equity will depend on its revenue growth and profitability in the two years to come, and will be comprised between four and six times 2019 and 2020 revenues.

Silicon Valley-based Centric Software provides product lifecycle management software solutions. It has offices in 13 countries and has more than 600 globally-recognized brands as clients. In 2017, Centric Software grew over 60 percent for a revenue of $61 million and generated positive net income.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Bahrain's foreign minister has called for a boycott of Uber after the ride-hailing company's Chief Executive Officer Dara Khosrowshahi said he will not attend an investment conference in Bahrain's ally, Saudi Arabia. Khosrowshahi is among several business leaders who have said they are pulling out of the three-day investment conference slated to take place in Saudi Arabia beginning October 23. Porsche, the sports car maker owned by Volkswagen AG, has denied speculation that it plans to pursue an initial public offering or IPO. Porsche Chief Financial Officer Lutz Meschke said on Friday that Porsche was discussing a potential listing of a group combining Porsche, Bentley, Lamborghini and Bugatti, with a potential value of up to 70 billion euros. Bank of America (BAC) reported that its third-quarter earnings per share was up 43% year-over-year to $0.66. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $0.62 for the quarter. Analysts' estimates typically exclude special items. Net income to shareholders...
Follow RTT