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Geometric acquires 3Cap Technologies GmbH

Geometric acquires 3Cap Technologies GmbH

  • Enhances capability in automotive electronics domain
  • Strengthens presence in Europe
  • Acquires near shore delivery presence in Germany

Mumbai, India, in January 2013: Geometric Limited (BSE: 532312, NSE: GEOMETRIC), a leader in Product Lifecycle Management (PLM), Global Engineering Services and Outsourced Software Product Development (OSPD) solutions and technologies, today announced that its German subsidiary, Geometric Europe GmbH has acquired 100% stake in 3Cap Technologies GmbH (3Cap), a specialist in electronics engineering, primarily for the automotive industry, based in Oberschleißheim near Munich, Germany.

3Cap employs over 110 people, all of whom work out of Germany. It has seven customers, which are mostly tier 1 automotive suppliers. 3Cap offers a multitude of
services to its customers ranging from Embedded Systems Development Verification and Validation, and Calibration in the areas of powertrain and chassis.

Announcing the acquisition, Mr. Manu Parpia, MD & CEO, Geometric said, “This acquisition represents an important step in our strategy to provide greater capability and more comprehensive solutions in the digital product realization space to our customers”.  Geometric has strength in engineering software and mechanical engineering services, with almost 70% of its revenues coming from the US market. “The use of embedded systems is increasing in all our customer products. This acquisition fills a major gap in the solutions we offer to our customers, while at the same time strengthening our presence in Europe. Thus, in taking this action, we address two main
needs of our customers - the ability to deliver embedded systems based solutions and a stronger presence in Europe”.

3Cap is a young multicultural company founded in 2004 by Mr. Henri Sadoune, who is a French national based out of Munich, Germany. Mr. Sadoune has entered into
a long term agreement with Geometric and will take responsibility for all embedded systems activities, including Geometric’s existing embedded systems projects.

Henri Sadoune, MD, 3Cap Technologies added, “We are very happy to provide our customers the global reach and end-to-end capabilities that this association with Geometric gives us. Moreover, the underlying ethos of both companies to ‘partner’ with customers will further cement this merger and strengthen our common business development”.

3Cap is valued at Euros 11 million of which Euros 7.5 million will be paid up front. Geometric is funding the acquisition out of accrued cash. The balance payments will be subject to earn-out under mutually agreed terms and conditions over a maximum period of 3 years. In the calendar year 2012, 3Cap had revenues close to Euros 11 million. The acquisition is effective 1st January 2013.
 

Responsible for the content of this press release: Geometric Technologies, Inc.

Contact

Geometric Technologies, Inc.
Friedrichstr. 15
70174 Stuttgart
Germany
+49.172.7874221

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