[Techtaffy Newsdesk]
3D experience company Dassault Systèmes has entered into a definitive agreement whereby it will acquire geological modeling and simulation company Gemcom Software for approximately $360 million, in an all cash transaction. Gemcom is privately-held, and headquartered in Vancouver.
The completion of the acquisition is subject to normal closing conditions, including regulatory approvals. The transaction is expected to be completed in July 2012.
After the closing of the transaction, Gemcom’s 360 employees and management will remain in place and continue serving the mining industry. Gemcom’s current offices will further extend the overall geographic reach of Dassault Systèmes in Australia, Africa, Canada, South America, Kazakhstan, Mongolia, Indonesia, and Russia.