Mechanical design automation and product data management software house Structural Dynamics Research Corp has signed an agreement to acquire Computer Aided Systems for Engineering, hoping to boost its financial status. The Cincinnati, Ohio company, which recently reported third quarter net profits up 40.0% at $11.7m on revenue that rose 20.8% at $86.7m, has been on the acquisition trail for a couple of years, buying suitable targets and benefiting from inflated revenues. SDRC has worked with CASE, the combination of two privately held companies, since 1984, distributing CASE software. Earlier this year SDRC struck a deal with IBM Corp to deliver I-DEAS Master Series, I-DEAS Artisan Series and Metaphase Series 2 software from CASE, on its Unix and Windows NT systems across the world (CI No 3,114). The acquisition agreement is expected to close imminently, SDRC issuing 1.5 million of its shares, valued at $25m, which in turn will enable SDRC to get its hands on 100% ownership of CASE. SDRC hopes to keep on CASE’s 25 professional staff when the deal is closed, and anticipates that the financial benefits of the acquisition will be visible immediately.
