Vancouver-based geological modelling and simulation company Gemcom Software International Inc. is the target of a friendly takeover by French “3D Experience Company” Dassault Systèmes.
The deal is valued at approximately US$360 million. After it is completed, Gemcom’s 360 employees and management will stay at their current location.
“With the acquisition of Gemcom, coupled with our 3D Experience platform capabilities, our objective is to model and simulate our planet, improving predictability, efficiency, safety and sustainability within the natural resources industry and beyond,” said Bernard Charlès, president and CEO of Dassault (pictured).
Gemcom also expressed satisfaction with the friendly takeover.
Gemcom president and CEO Rick Moignard said that the deal will “clearly benefit Gemcom’s customer base,” which is primarily in the mining industry.
“Advanced technologies in 3D modelling and simulation will not only enable engineers and geologists to model and visualize resources but also improve sustainable mine productivity,” Moignard said.
As part of the deal, Dassault is launching a new brand called GEOVIA. Moignard will become its CEO.
The transaction is expected to be completed in July 2012.
