Dassault Systemes and RAND Worldwide Announce Joint Venture for PLM Sales in North America.Business Editors/High-Tech Writers PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. & MISSISSAUGA, Ontario--(BUSINESS WIRE)--April 15, 2004 Agreement Strengthens Dassault Systemes Presence in North American Market; Solidifies RAND Financial Position Dassault Systemes (Nasdaq: DASTY; Euronext Paris: #13065, DSY DSY Drum Storage Yard .PA) and Rand A Technology Corporation, operating as RAND Worldwide (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : RND RND Round RND Random RND Research and Development RND Red Nose Day RND Rassemblement National Démocratique (French: Democratic National Rally; political party, various countries) RND Royal Naval Division ) today announced plans to create RAND Americas, Inc. ("Rand Americas"), a new joint venture focused on increasing sales of Dassault Systemes Product Lifecycle Management (PLM (Product Life cycle Management) A comprehensive information system that coordinates all aspects of a product from initial concept to its eventual retirement. Sometimes called the "digital backbone" of a product, it includes the requirements phase, analysis and design ) software in North America. Subject to closing of the proposed transaction, RAND Worldwide will transfer its North American PLM software sales business unit (approximately 55 employees) to Rand Americas, a new U.S. company, 60% owned by Dassault Systemes and 40% owned by RAND Worldwide. Dassault Systemes will pay RAND Worldwide CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $11 million, as well as reschedule RAND Worldwide loan payments. The goal of the new structure is threefold: to create a dynamic that will further improve PLM small-and-medium sized business (SMB (1) (Small to Medium-sized Business) Also called "SME" (small to medium-sized enterprise), it refers to companies that are larger than the small office/home office (SOHO), but not huge. ) sales across the North American continent, to grow Dassault Systemes' PLM Solutions market share; and to reinforce RAND Worldwide's financial position. RAND Americas will operate as an IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Business Partner selling Dassault Systemes PLM solutions as RAND Worldwide is today. Rand Americas will become a subsidiary of Dassault Systemes. Brian Semkiw, currently CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and a director of RAND Worldwide, will become the new CEO of RAND Americas. RAND Worldwide president Frank Baldesarra will become CEO of RAND Worldwide. The transaction, which is expected to close on or before June 30, 2004, is subject to customary conditions, including documentation and approval by RAND Worldwide's Board of Directors. The new arrangement involves neither RAND Worldwide's PLM software sales business in Europe and Asia-Pacific, nor any other parts of the company's global business operations. "We believe that Dassault Systemes' continued commitment to RAND and to investing in the PLM market will significantly improve our North American business and, in turn, help us to return to global profitability and predictable growth," said Frank Baldesarra. "Together, we will accelerate the sales of Dassault Systemes' best-in-class PLM solutions and RAND Worldwide's leading PLM services to the mutual benefit of all of our customers," said Brian Semkiw. "The new structure will bring our two companies into even closer global partnership in the rapidly growing PLM marketplace." "After a successful transition, RAND is a key part of our global PLM software and service distribution plan. The transaction further improves our position in North America and will help to generate a market dynamic that benefits all of our partners" said Etienne Droit [French, Justice, right, law.] A term denoting the abstract concept of law or a right. Droit is as variable a phrase as the English right or the Latin jus. It signifies the entire body of law or a right in terms of a duty or obligation. , executive vice president, Sales and Services, Dassault Systemes. Further details related to this agreement will be discussed in Dassault Systemes' earnings conference call on April 29th, 2004. About RAND Worldwide RAND Worldwide is one of the world's leading providers of services and technology to companies looking to optimize their product lifecycle management (PLM) processes. Unlike traditional CAD/CAM/CAE/PDM technologies, PLM provides collaborative solutions to define and manage information throughout the complete product lifecycle and across the entire extended enterprise. As the world's only independent global technology provider, RAND Worldwide employs over 800 people in more than 75 international sales and client service centres. The Company's corporate head office in Mississauga, Ontario, Canada can be reached at 905-625-2000 or through the Internet at http://www.rand.com. About Dassault Systemes As world leader in PLM (Product Lifecycle Management) solutions, the Dassault Systemes group brings value to more than 70,000 customers in 80 countries. A pioneer in the 3D software market since 1981, Dassault Systemes develops and markets PLM application software and services that support industrial processes and provide a 3D vision of the entire life cycle of products from conception to maintenance. Its offering includes integrated PLM solutions for product development (CATIA A family of 2D and 3D CAD programs from IBM. CATIA was one of the first CAD programs to provide 3D solid modeling. The program was developed by Dassault Systems, a French aerospace company. (R), DELMIA DELMIA Digital Enterprise Lean Manufacturing Interactive Application (R), ENOVIA(R), SMARTEAM(R)), mainstream product design tools (SolidWorks(R)), and 3D components (ACIS(R)) from Spatial Corp. Dassault Systemes is listed on the Nasdaq (DASTY) and Euronext Paris (#13065, DSY.PA) stock exchanges. For more information, visit http://www.3ds.com |
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