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France,Netherlands : DASSAULT SYSTEMES agrees to buy QUINTIQ for Euros 250 MILLION

July 25, 2014

Dassault Systemes SA has inked an agreement worth euros 250 million ($337 million) for the acquisition of Quintiq, a maker of production and supply-chain management software for the metals, mining and oil and gas sectors.

Quintiq will add product lines and provides a new reach into industries such as metals, mining, oil & gas, rail, delivery and freight, said Dassault.

Dassault will buy Quintiq through its Dutch subsidiary Dassault Systemes BV.

The transaction will be complete after meeting customary closing conditions, including antitrust clearances in Germany and Austria.

Netherlands-based Quintiq is controlled by its senior management and led by co-founder and CEO Victor Allis. The business was founded in 1997 by five computer engineers and has made a profit every year since its inception.

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Source: TendersInfo (India)

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