Centric Software

The Centric Software company with the headquarters in Silicon Valley in the State of California locates offices in 13 countries of the world and is engaged in development of software solutions for product lifecycle management.

The specialized Centric PLM platform for joint work is used for planning of merchandising, work on specifications of products and scenarios of costs, material management, purchase of products, management of collections, terms and quality. The platform available on desktops and mobile devices helps producers to optimize work, to accelerate an output of new products to the market, to increase sales and profit.

History

2018: Purchase of Centric Software controlling stake by the company

The Dassault Systèmes company announced on June 25, 2018 conclusion of an agreement about acquisition of a controlling stake of the Centric Software company offering the platform for digital transformation of business in the industry of a fashion, luxury goods and retail.

Under the terms of the agreement, the controlling stake acquired by Dassault Systèmes, according to the choice of shareholders of Centric Software, will make between 58% and 69% of stocks of the company. Payment will be made by cash. Besides, the company also agreed to advance payment in connection with acquisition of the remained stocks which will take place in 2020 and 2021. The full amount for acquisition of 100% of the stocks Centric Software will depend on growth of revenue of Centric Software and on profitability of the company in the next two years — by estimates of the company, this indicator will be in the range of four-sixfold revenue of the company for 2019 and 2020.

According to the results of the transaction Centric Software will join Dassault Systèmes together with the innovation configured PLM solution and team of experts. For the investment account Dassault Systèmes she intends to accelerate digital transformation of the companies which are in finding solutions for more and more becoming complicated process of creation of the collections capable to answer modern trends and requests of consumers in the market. As well as in a case with SolidWorks, Dassault Systèmes intends to save independent management of Centric Software.

Thanks to cooperation with Dassault Systèmes, the Centric Software company will get support of the leading innovative company — Chris Groves, the president and the chief executive officer of Centric Software commented on the transaction. — Our cumulative experience in area of digital transformation and also the PLM solution and platform 3DExperience will allow to accelerate development of the innovations demanded by the market which will help our clients to gain competitive advantage and will promote growth of their business.

The Shearman & Sterling LLP law firm acted as the legal advisor of Dassault Systèmes; Union Square Advisors LLC acted as the exclusive financial advisor of Centric Software; DLA Piper became the legal advisor of Centric Software according to the transaction.