CAE acquires Terrain Experts, Inc.
25 May 2005 - 4:24AM
PR Newswire (US)
CAE acquires Terrain Experts, Inc. MONTREAL, May 24
/PRNewswire-FirstCall/ -- (NYSE: CGT; TSX: CAE) - CAE announced
today it has closed the acquisition of Terrain Experts, Inc., a
leading developer of software tools for simulation database
generation and visualization, for approximately US$10 million paid
in CAE common shares. Terrain Experts, known in the military market
as TERREX, develops commercial- off-the-shelf (COTS) simulation
software that makes database development simpler and more
accessible to the entire simulation market. The company's product
line includes the Terra Vista(TM) and SOFViz(TM) applications used
extensively for real-time 3-D image generation, battlefield
visualization, and mission rehearsal. TERREX is based in Tucson,
Arizona, and employs approximately 40 people. "CAE is very pleased
to welcome TERREX, which we targeted for its very successful COTS
software business model and market-leading software products," said
Bruce Miles, CAE's Vice President of Business Development. "CAE is
committed to developing and offering COTS software to the market
throughout our suite of modelling and simulation software." TERREX
will operate from its facility in Tucson and continue offering its
entire suite of COTS software, including service and support.
Engineering and development teams from TERREX and CAE have already
begun looking at ways to integrate some of CAE's leading-edge
simulation and database software tools, such as CAE Lithos(TM) and
CAE STRIVE(TM), into the TERREX product line. "We have more than
700 customers worldwide using TERREX software and we see great
opportunities to offer them additional value in the form of new
features and products from CAE's impressive technology base," said
Norman Miller, President, Terrain Experts, Inc. "Government and
military customers are demanding software products that are
fully-featured, easy-to-use, and above all, not proprietary to a
single contractor. TERREX built its business on developing COTS
software and this combination with CAE should produce world-class,
commercially available simulation software and development tools."
CAE is a leading provider of simulation and modelling technologies
as well as integrated training services for commercial and business
aviation, and defence customers worldwide. The company has annual
revenues of approximately C$1 billion, with operations and training
facilities in 17 countries on five continents. DATASOURCE: CAE INC.
CONTACT: Media contacts: Nathalie Bourque, Vice President, Global
Communications, (514) 734-5788, ; Defence/trade media: Chris
Stellwag, Director, Marketing Communications, MS&T, (813)
887-1242, ; Investor relations: Andrew Arnovitz, Director, Investor
Relations, (514) 734-5760, ; On the Web: http://www.cae.com/
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