LMS International announces completion of IMAGINE acquisition
LMS International, the engineering innovation company, today
announced that it has completed the acquisition of the shares owned
by the private shareholders of IMAGINE. LMS will now proceed with
making a public offer to buy the remaining 7% of the shares of
IMAGINE which are in the hands of the public through the listing on
the Marché Libre of Euronext Paris.
As the due diligence procedure is now completed, LMS has fixed the acquisition price at € 32 per share. The public shareholders will be individually informed on the conditions proposed by LMS and the practical arrangements with regard to the acquisition of the public shares. As soon as the contemplated acquisition of the public shares will be completed, LMS intends to request the delisting of IMAGINE from the Marché Libre of Euronext Paris.
Through the acquisition, LMS strategically extends its current solutions portfolio for functional performance simulation and physical testing, delivering a complete set of applications to model, simulate and test the real-life behavior of mechanical and mechatronic intelligent systems. LMS also becomes the first and only provider in the industry to deliver system simulation solutions that truly support all phases of product development – from the concept and the detailed design stages, through the final refinement and physical prototype validation stages.
“Both LMS and IMAGINE received very positive feedback from their respective customer communities on the acquisition,” commented Dr. Urbain Vandeurzen, Chairman and CEO of LMS. “Manufacturing companies strongly value the unique combination of IMAGINE’s 1D multi-domain system simulation for intelligent mechanical and mechatronic systems with LMS’ portfolio of 3D simulation software and physical testing systems.”
Date: May 15, 2007