AVEVA strengthens its 3D design capability with the addition of best-in-class structural detailing software
AVEVA (LSE:AVV), today announced the acquisition of the Bocad group of companies ("Bocad"). This strategic acquisition includes all companies in the Bocad group, bringing to AVEVA all IPR, employees, contracts and assets. AVEVA will establish a new Structural Design Centre of Excellence across Bocad's two main offices in Bochum, Germany and Ocquier, Belgium where it will continue to develop and support the Bocad software products. The software developed through the Centre of Excellence will be tightly aligned with the AVEVA PDMS and AVEVA Marine solutions and will be sold through the AVEVA global sales force. The new combination will create a world-class engineering design offering for the plant, marine and fabrication markets.
Extensive evaluation by AVEVA identified the Bocad software solutions as the most versatile structural design applications on the market today. The flexibility, capability and richness of functionality make it the first choice for a number of industrial design markets. Richard Longdon, Chief Executive, AVEVA commented, "I am delighted to welcome the Bocad team and software solutions to AVEVA. We are continually looking to strengthen our product portfolio with industry-leading solutions and Bocad easily demonstrated best-in-class. This acquisition further extends AVEVA's position as a leader in the 3D design market and will be excellent news for our customers and expand AVEVA's opportunity to capture even greater market share from our competitors."
Joint customers are already enjoying significant benefits from the existing level of integration between Bocad and AVEVA solutions which will be further strengthened as a result of the acquisition. Dave Wheeldon, CTO, AVEVA added, "We've been listening to customer requests for greater structural detailing capability. The acquisition of Bocad is a direct response to these needs, giving even greater depth to our 3D plant and marine design solutions. Tighter integration between piping design and structural steel detailing will allow engineers and fabricators to work in a dynamic environment for clash detection and management of change. This will provide a major improvement in quality and efficiency."
In a joint statement Jean-Marie Godfraind and Michael Falck, both Bocad directors said, "We've been working for some time on a plan to further develop the full potential for our Bocad technology through closer integration with 3D design solutions. The acquisition fits perfectly into our strategy and will give our customers a great roadmap for the future. We're very happy to be joining AVEVA. We share a similar heritage, culture and business philosophy which will greatly simplify the merging of our team into AVEVA."