SDRC Completes Imageware Acquisition
20 November 1998
SDRC Completes Imageware Acquisition
CINCINNATI--Nov. 20, 1998--SDRC , a leading global provider of product development solutions and developer of I-DEAS(TM) and Metaphase(R) Enterprise(TM) software, today announced that it has closed its previously announced transaction to acquire privately-held Imageware Corporation of Ann Arbor, Michigan, for approximately $31 million cash. The acquisition will be treated as a purchase for accounting purposes. A still undetermined, one-time, after-tax charge will result for in-process research and development in the fourth quarter of 1998.The acquisition provides SDRC with an expanded and leading edge suite of technical surfacing applications and technologies that supports the development of highly-styled mechanical products. The applications include free-form surfacing, inspection, point processing, foreign CAD geometry clean up and healing. The Imageware(TM) core modeling technology and process-oriented applications have enabled rapid penetration into the automotive high-quality free form and Class 1 surfacing market. SDRC will proceed with integrating the advanced surfacing technology into I-DEAS, while continuing to strengthen the stand-alone capability and direct data links to other CAD environments.
SDRC (Structural Dynamics Research Corporation) is a leading provider of Enterprise Product Development Solutions through its suite of Mechanical Design Automation software, Product Data Management software, and related consulting services. The Company's products and services help manufacturers optimize product concepts early in the design process, enabling them to significantly improve product quality while reducing product development time and costs. SDRC employs more than 2,300 people and has 64 offices in 16 countries throughout North America, Europe, and Asia/Pacific.
www.sdrc.com www.iware.com
Note to Editors: SDRC and Metaphase are registered trademarks, and I-DEAS, Imageware and Metaphase Enterprise are trademarks of Structural Dynamics Research Corporation. All other trademarks or registered trademarks belong to their respective holders.