Dassault Systemes: IBM PLM Acquisition To Be Earnings-Accretive
27 October 2009 - 6:24PM
Dow Jones News
French software group Dassault Systemes' (DSY.FR) acquisition of
International Business Machines Corp.'s (IBM) sales and client
support operations for its product lifecycle management software
application portfolio, is expected to be accretive for earnings and
operating margin from 2010, Dassault Systemes Chief Executive
Bernard Charles said in a conference call Tuesday.
Earlier, Dassault Systemes said it signed an agreement with IBM
under which Dassault plans to acquire IBM's sales and client
support operations for its product lifecycle management software
application portfolio, or PLM, for approximately $600 million in
cash.
The transaction, under which the two companies will integrate
their PLM operations, is expected to be finalized by the end of the
second quarter next year, Charles reiterated.
Charles said it was the "right time" to buy IMB's PLM portfolio
after having cooperated for numerous years with IBM in the
sector.
-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171740;
geraldine.amiel@dowjones.com