Dassault SystÃ¨mes Agrees To Buy Privately Held Centric Software
(RTTNews.com) - Dassault SystÃ¨mes (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.
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