Rand Worldwide to Sell Dassault Systemes a Portion of European Operation

By DE Editors

Rand A TechnologyCorporation (Mississauga, Canada), operating as Rand Worldwide, a provider of software and services for PLM, recently announcedthat it has entered into a definitive purchase and sale agreement withDassault Systemes S.A. of France, in which certain RANDWorldwide's European subsidiaries would be acquired by DassaultSystèmes.

According to the agreement, Dassault Systemes will acquireRAND Worldwide subsidiaries in the United Kingdom, Sweden, Germany andSwitzerland, plus the subsidiary Rand Technologies C.I.S., Inc., aswell as 10 percent of the shares of Rand North America (with the result thatRand North America will then be owned 70 percent by Dassault and 30 percent byRANDWorldwide).

A recent press release issued by Rand announced the transaction will "significantlyenhance RAND Worldwide's financialposition" (through the elimination of all outstanding debt owed toDassault Systèmes) and will provide RAND Worldwide with a solidfoundation for profitable growth.

"This transaction provides RAND Worldwide with a much strongerfinancial position, and will significantly strengthen our balance sheetin the new year upon closing", said Frank Baldesarra, President andChief Executive Officer of RAND Worldwide. "At the same time, I amconfident that this team of professionals who will be joining Dassaultwill provide our customers with continuity and the benefits of ourlong-lasting relationships."

For more information on the sale, visit Rand's website.