Metris Acquires Paraform Inc.Business Editors/High-Tech Writers LEUVEN, Belgium.--(BUSINESS WIRE)--Sept. 12, 2002 Metris International Holding n.v. (Metris) , a leader in quality control, reverse engineering and 3D digitizing for the design and manufacturing community, today announced the acquisition of Paraform, Inc. The Paraform acquisition adds a wealth of complementary products and technologies covering a range of applications including: reverse engineering, polygonal modeling In 3D computer graphics, polygonal modeling is an approach for modeling objects by representing or approximating their surfaces using polygons. Polygonal modeling is well suited to scanline rendering and is therefore the method of choice for real-time computer graphics. , design for manufacturability, rapid surfacing, and others. The combined companies will have over 600 customers in a range of industries including: automotive, aerospace, consumer products, defense, entertainment, industrial equipment, and medical. "Metris is committed to the sustained, profitable growth of our business through internal development and selective strategic acquisitions. We strive to develop and deliver software and hardware products that allow our customers make better products, save time, and reduce costs by integrating our new pointcloud paradigm into their design and manufacturing processes," said Bart Van Coppenolle, chief executive officer of Metris. "The Paraform product line is a market leading family of software applications used by designers, engineers, and manufacturers of complex, freeform free·form adj. 1. Having or characterized by a usually flowing asymmetrical shape or outline: freeform sculpture. 2. parts and products. We are looking forward to work with our new team members from Paraform and are confident they will provide immediate value for Metris and our customers." "At Honda, we're pleased about the merger of these two fine companies," stated Kentaro Matsumoto, Chief Engineer, Computer Integrated Systems of Honda R&D. "As a customer of both firms, we anticipate many technical and strategic benefits to the combined company as well as continued innovation and improved product workflows for customers." "The acquisition of Paraform is a smart move by Metris," reports Bruce Jenkins, EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition at Daratech. "The companies share many common customers, offer complementary technologies, and together have the potential to provide a more comprehensive end-to-end workflow solution for their customers. This acquisition is consistent with Metris' earlier purchases and appears to be part of a well designed strategic growth plan by the company." "This acquisition provides Paraform with a strong platform to continue its leadership in the areas of reverse engineering, polygonal modeling, rapid surfacing, and design form manufacturability for complex, free form products," says Venkat Krishnamurthy, founder and CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. of Paraform. Dr. Krishnamurthy will maintain a technical and product leadership role at Metris, as VP Software Engineering, retaining and building on the Paraform team in Silicon Valley, CA. "This acquisition makes strategic and financial sense for Metris," reports Daniel Corry, General Partner at Sand Hill Capital, Chairman and majority shareholder of Paraform. "With public financial markets in a depressed condition, now is the time for strong private companies to expand their capabilities and market presence through targeted M&A programs." About Metris Corporation Metris is a total solutions provider for 3D digitizing, 3D inspection and surface reconstruction In surface physics, surface reconstruction is the name given to the process by which the atoms at the surface of a crystal rearrange themselves to form a structure with a different periodicity and/or symmetry than that of the bulk crystal. targeting the design and manufacturing community and more specifically the automotive and aerospace industry. Metris started as a software company with a unique and challenging new paradigm New Paradigm In the investing world, a totally new way of doing things that has a huge effect on business. Notes: The word "paradigm" is defined as a pattern or model, and it has been used in science to refer to a theoretical framework. for computer aided verification Computer Aided Verification (CAV) is an annual academic conference on the theory and practice of computer aided formal analysis of software and hardware systems. The conference consists of peer-reviewed research papers and system descriptions. . After acquiring and leveraging a German company in 1999, Metris moved into a unique position by becoming the only company providing a total solution including the digitizing hardware and software. This hardware consists of an optical probe that digitizes an object using laser light. Over the last years, hundreds of customers from all over the world have chosen for Metris, maturing the Metris product portfolio. Metris is a fully funded, profitable and fast growing technology company with a strong balance sheet enabling accelerated growth through mergers and acquisitions. Metris has a clear M&A strategy creating value for Metris customers and shareholders. About Paraform Paraform develops and markets Digital Form Development(TM) software applications for a variety of industrial and digital content creation The development of newsworthy, educational and entertainment material for distribution over the Internet or other electronic media. See DAMS. applications including concept modeling, reverse engineering, vendor verification and inspection, rapid prototyping Building a part one layer at a time using a method of additive fabrication such as 3D printing. Such parts are used for concept modeling to determine if the product design meets the customer's expectations. , engineering analysis (FEA (Finite Element Analysis) A mathematical technique for analyzing stress, which breaks down a physical structure into substructures called "finite elements." The finite elements and their interrelationships are converted into equation form and solved mathematically. , CFD CFD - Computational Fluid Dynamics ), manufacturability analysis, tooling modification and repair, legacy data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a , visual effects and animation. Paraform's 200+ customers come from a range of markets including: automotive (Honda, Daimler Chrysler, Ford, Porsche); aerospace (Boeing, Pratt & Whitney, Raytheon); consumer products (Mattel, Titleist, Adidas); defense (US Navy & Army, NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. , Sandia National Labs), entertainment (Disney, Sony, Electronic Arts); industrial (Alcoa, GE, Sumitomo); and medical (3M, Dentsply, Stryker). Paraform is headquartered in Santa Clara, CA. |
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