CoCreate Aligns Global Presence With Global Investment Partner10 July 2006
CoCreateSoftware, Inc., a leading provider of 3rd Generation PLM softwareapplications, today announced that the private equity investment arm of HBKInvestments L.P., on behalf of its client funds, has acquired completeinterest in the company for an undisclosed sum.
In the past five years under Triton and 3i ownership, CoCreate hasundergone major transformations in its business model, financialperformance, and operational effectiveness. These advances, led by both theinvestment board and executive management team, have positioned CoCreate asa profitable and productive business poised for growth.
"CoCreate's first half performance has been strong, signaling a momentumshift for the company with its innovative approach to 3D productdevelopment and product lifecycle management. We are very pleased to havethe opportunity to leverage HBK's global perspective and strengths as weincreasingly capitalize on our 3G PLM strategy," said William M. Gascoigne,CoCreate CEO.
Combining unique 3D Dynamic Modeling™ technology, open integrations toenterprise systems, and a unique collaboration platform, CoCreate offersthe only true alternative within the crowded CAD/PLM industry. CoCreate'sstrengths naturally align to customers within verticals that are subjectedto intense time to market pressures, unexpected change late in the designcycle, and a constant evolution of products.
"CoCreate offers a differentiated product suite with disruptive qualitiesfor the CAD/PLM industry," noted Anand Gowda of HBK. "The company holds aleadership position in the history-free 3D CAD market segment and offersstrong product data management and collaboration tools, which when tiedtogether offer a low-cost, low-risk approach to the PLM process. CoCreatehas strong growth prospects, and we are excited to partner with CoCreate'smanagement and employees."
3i / Triton held the majority of the shares in CoCreate since the buyoutfrom HP in 2000. "Since our involvement, CoCreate undertook a number ofchange programs and revised its strategy," said Marco Attolini andHansjoerg Ruof, the Triton and 3i representatives and CoCreate boardmembers. "CoCreate today is a highly profitable software business with avery interesting proposition for further growth."
About HBK Investments L.P.
HBK Investments L.P. is an investment firm with approximately $10 billionin equity capital under management. Headquartered in Dallas, the firm alsomaintains offices in New York, London, Tokyo, and Hong Kong.
About 3i
3i is a world leader in private equity and venture capital, focused onBuyouts, Growth Capital and Venture Capital and investments across Europe,in the United States and in Asia Pacific. 3i's competitive advantage comesfrom our international network and the strength and breadth of ourrelationships in business. These underpin the value that we deliver to ourportfolio and to our shareholders. For more information, go tohttp://www.3i.com.
About CoCreate®
CoCreate develops 3rd generation PLM software for companies that want toaccelerate their business with lean product development, fast designcreation, and efficient knowledge re-use. CoCreate is also the world's #1provider of Dynamic Modeling™ technology, an approach to 3D productdevelopment that delivers unrivaled speed, flexibility and responsivenessto change throughout the design process, and is the key enabler for leanproduct development. You can find CoCreate products in more than 30countries and on the Web at http://www.cocreate.com.
CoCreate and OneSpace are trademarks of CoCreate Software GmbH.
CONTACT:
Todd BlackCoCreate Software, Inc. North America970.267.8120Email Contact
Chikage ToyamaCoCreate Software Company, Japan/Asia-Pacific+81.42.352.5652Email Contact
Thomas RoserCoCreate Software GmbH, Europe+49.7031.951.2208Email Contact
SOURCE: CoCreate Software
Source: marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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