Dassault to integrate Geometric unit Delmia's India Lab with 3DPLM Software Solutions
09 Nov 2010
Aerospace major Dassalt Systemes will merge Delmia Solutions Pvt Ltd, a subsidiary of Geometric Ltd, with 3DPLM Software Solutions Ltd, a joint venture between the two companies, under an agreement with Geometric Ltd.
Based in Mumbai, Geometric Ltd provides engineering services and digital technology solutions for product lifecycle management.
At its meeting today, the board of directors of the company accorded approval for the merger of the holding company, Geometric said in a filing with the Bombay Stock Exchange (BSE).
Pursuant to the merger of Delmia India with 3DPLM, Dassault Système's ownership in 3DPLM will increase to 42 per cent from 30 per cent.
The transaction is subject to receipt of regulatory approvals and will be earnings-neutral for Geometric in the first year. Delmia India would operate as a separate subsidiary of 3DPLM for the next two years, the filing said.
"As a shareholder of 3DPLM, we are very pleased with the decision of Dassault Systèmes to combine their R&D activities under our joint venture 3D PLM Software Solutions and we look forward to 3DPLM's continued growth," said Ravishankar G, MD and CEO of Geometric Limited.