{"id":11425,"date":"2018-06-14T14:59:57","date_gmt":"2018-06-14T14:59:57","guid":{"rendered":"http:\/\/faceinews.com\/?p=11425"},"modified":"2018-06-14T14:59:57","modified_gmt":"2018-06-14T14:59:57","slug":"dassault-systemes-announcing-majority-stake-in-centric-software","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=11425","title":{"rendered":"Dassault Systemes announcing majority stake in Centric software"},"content":{"rendered":"<p><a href=\"http:\/\/faceinews.com\/wp-content\/uploads\/2018\/06\/Dassault-Syst\u00e8mes.jpg\" rel=\"attachment wp-att-11426\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-11426 size-full\" src=\"http:\/\/faceinews.com\/wp-content\/uploads\/2018\/06\/Dassault-Syst\u00e8mes.jpg\" alt=\"Dassault Syst\u00e8mes\" width=\"253\" height=\"189\" \/><\/a>Dassault Syst\u00e8mes and Centric Software Come Together to Accelerate Digital Transformation of Fashion, Retail and Consumer Goods Companies:<\/p>\n<p>Dassault Syst\u00e8mes to Acquire Majority Stake in Centric Software<\/p>\n<p><a href=\"http:\/\/faceinews.com\/wp-content\/uploads\/2017\/11\/Faceinews-Logo-Copy.png\" rel=\"attachment wp-att-7654\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7654\" src=\"http:\/\/faceinews.com\/wp-content\/uploads\/2017\/11\/Faceinews-Logo-Copy.png\" alt=\"Faceinews Logo - Copy\" width=\"173\" height=\"43\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><strong>Dassault Syst\u00e8mes and Centric Software to achieve digital transformation, speed to market and innovation forfashion companies <\/strong><\/li>\n<li><strong>Centric Software\u2019s PLMsolutions generate fast ROI for fashion brandsto respond to on-trend, on-demand consumers<\/strong><\/li>\n<li><strong>Centric Software\u2019s globally-recognized customers include Auchan, Belle China, Bestseller, Fast Retailing, Kering Group, Li &amp; Fung, Loblaws, LVMH, Mango, PVH, Ruyi Group, Under Armour and others<\/strong><\/li>\n<\/ul>\n<p><em>\u00a0<\/em><\/p>\n<p><strong>INDIA\u2013 June 14, 2018<\/strong>\u2014 <a href=\"http:\/\/www.3ds.com\">Dassault Syst\u00e8mes<\/a> (Euronext Paris: #13065, DSY.PA) today announced that it has entered into a definitive agreement to acquire a majority stake in <a href=\"https:\/\/www.centricsoftware.com\/\">Centric Software<\/a>, a privately-owned industry market leader driving digital transformation with software innovationin thefashion, apparel, luxury and retail sectors.\u00a0 With this investment, Dassault Syst\u00e8mes aims to accelerate the digital transformation of companiesseekingsolutions for the increasingly complex development of collections that respond totoday\u2019s on-trend and on-demand consumers, representinga multi-billion dollar total addressable market.<\/p>\n<p>&nbsp;<\/p>\n<p>Headquartered in California\u2019s Silicon Valley and with offices in 13 countries, Centric Software provides product lifecycle management software solutions to more than 600 globally-recognized brandsincluding ASICS,Bass Pro, Belle China, Bestseller,Etam, Kate Spade, Loblaws, Louis Vuitton, Michael Kors, Samsonite, Ted Baker, Tommy Hilfigerand others.In 2017, Centric Software grew over 60 percent for a revenue of $61 million and generated positive net income.\u00a0 Centric\u2019s industry-specific collaborative PLM platform is used for merchandise planning, product specifications, materials management, product sourcing, cost scenarios, collection management, calendar management and quality management, on desktopand also optimized for mobile devices, to increase efficiency, accelerate time to market, and improve sales and product margins.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8220;As we are connecting the dots of the value network for customers in 12 industries and 70 segments, we understand the specific needs of the sectors that launch their products by collection,\u201dsaid Bernard Charl\u00e8s, Vice Chairman and CEO, Dassault Syst\u00e8mes.\u00a0 \u201cCentric Software is joining us with a market-leading, well-tailored, configurable PLM solution and a great team of experts fully dedicated to making these particular customerssuccessful. Together, we are going to accelerate their transformation with PLM and create even more business value with our 3DEXPERIENCE industry processes. As we did for SOLIDWORKS 20 years ago, we will keep Centric Software independently operated.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>Today\u2019s consumers are more knowledgeable about products than ever before, quickly defining and following trends in a world where the digital and physical converge.\u00a0\u00a0Competitive apparel and fashion brands are scrambling to meet their expectations for on-trend and on-demand products by increasing the number of collections they produce each year and accelerating their launch.\u00a0\u00a0For thousands\u00a0of companies, this challenge requires last-minute decision-making and the need to reconfigure business processes for product creation through market launch quickly without eroding margins or product quality.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cBy partnering with Dassault Syst\u00e8mes, Centric Software will have the backing of a world-leading innovation company,\u201d said Chris Groves, President and CEO,Centric Software.\u00a0 \u201cOur combined expertise in digital transformation, PLM and the 3DEXPERIENCE platform will allow us to accelerate the development of market-driven innovations to help our customers develop a competitive advantage and fuel growth.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cI look forward to Centric Software partnering with Dassault Syst\u00e8mes to leverage two, world-class, innovative companies as they enable, accelerate and deliver the most fundamentally disruptive, purpose-built solutions for a vast yet radically underserved industry yielding compelling economic efficiencies of end-to-end digital transformation,\u201d said BandelCarano, Managing Director, Oak Investment Partners, an investor in Centric Software.<\/p>\n<p>&nbsp;<\/p>\n<p>Under the terms of the agreement, Dassault Syst\u00e8mes will acquire for cash a majority ownership of Centric Software, which will be comprised between58 and 69 percent depending on the Centric Software shareholders\u2019 election, and anadvance payment on the acquisition of the remainder of the shares, which will take place in 2020 and 2021. The total consideration for the acquisition of 100 percent of Centric Software\u2019s equity will depend on Centric Software\u2019s revenue growth and profitability in the two years to come, and will be comprisedbetween four and six times 2019 and 2020 revenues.<\/p>\n<p>&nbsp;<\/p>\n<p>Shearman &amp; Sterling LLP acted as legal counsel to Dassault Syst\u00e8mes and Union Square Advisors LLC acted as exclusive financial advisor and DLA Piper as legal counsel to Centric Software in connection with the transaction.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Comments on this acquisition will be made during Dassault Syst\u00e8mes\u2019 <a href=\"https:\/\/www.3ds.com\/fileadmin\/COMPANY\/Investors\/Capital-Markets-Day\/2018\/Capital_Market_Day_2018.en.pdf\">Capital Markets Day<\/a>, which will be held on June 15, 2018.A webcast of the Capital Markets Day including Centric Software acquisition comments and a Q&amp;A will be available that afternoon by accessing <a href=\"http:\/\/www.3ds.com\/company\/finance\/\">http:\/\/www.3ds.com\/company\/finance\/<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>###<\/p>\n<p>&nbsp;<\/p>\n<p><strong>About Centric Software (<\/strong><a href=\"http:\/\/www.centricsoftware.com\"><strong>www.centricsoftware.com<\/strong><\/a><strong>)<\/strong><\/p>\n<p>From its headquarters in Silicon Valley and offices in trend capitals around the world, Centric Software provides a Digital Transformation Platform for the most prestigious names in fashion, retail, footwear, luxury, outdoor and consumer goods.\u00a0 Centric Visual Innovation Platform (VIP) is a visual, fully digital collection of boards for touch-based devices like iPad, iPhone and large-scale, touch-screen televisions. Centric VIP transforms decision making and automates execution to truly collapse time to market and distance to trend. Centric Software\u2019s flagship product lifecycle management (PLM) platform, Centric 8, delivers enterprise-class merchandise planning, product development, sourcing, business planning, quality, and collection management functionality tailored for fast-moving consumer industries. Centric SMB packages extended PLM including innovative technology and key industry learnings tailored for small businesses.<\/p>\n<p>&nbsp;<\/p>\n<p><em>Centric is a registered trademark of Centric Software. All other brands and product names may be trademarks of their respective owners.<\/em><\/p>\n<p><strong>About Dassault Syst\u00e8mes<\/strong><\/p>\n<p>Dassault Syst\u00e8mes, the 3DEXPERIENCE Company, provides business and people with virtual universes to imagine sustainable innovations.\u00a0 Its world-leading solutions transform the way products are designed, produced, and supported.\u00a0 Dassault Syst\u00e8mes\u2019 collaborative solutions foster social innovation, expanding possibilities for the virtual world to improve the real world.\u00a0 The group brings value to over 220,000 customers of all sizes, in all industries, in more than 140 countries.\u00a0 For more information, visit <a href=\"http:\/\/www.3ds.com\">www.3ds.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>3DEXPERIENCE, the Compass logo and the 3DS logo, CATIA, SOLIDWORKS, ENOVIA, DELMIA, SIMULIA, GEOVIA, EXALEAD, 3D VIA, BIOVIA, NETVIBES and 3DEXCITE are registered trademarks of Dassault Syst\u00e8mes or its subsidiaries in the US and\/or other countries.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>Dassault Syst\u00e8mes Press Contacts<\/strong><\/p>\n<p>India \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Santanu BHATTACHARYA\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <a href=\"mailto:santanu.bhattacharya@3ds.com\">santanu.bhattacharya@3ds.com<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 +91 124 457 7111<\/p>\n<p>India\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Avneet KAUR\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <a href=\"mailto:avneet.kaur@2020msl.com\">avneet.kaur@2020msl.com<\/a> +919711089030<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dassault Syst\u00e8mes and Centric Software Come Together to Accelerate Digital Transformation of Fashion, Retail and Consumer Goods Companies: Dassault Syst\u00e8mes to Acquire Majority Stake in Centric Software &nbsp; Dassault Syst\u00e8mes and Centric Software to achieve digital transformation, speed to market and innovation forfashion companies Centric Software\u2019s PLMsolutions generate fast ROI for fashion brandsto respond to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11426,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[],"class_list":["post-11425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/11425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11425"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/11425\/revisions"}],"predecessor-version":[{"id":11427,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/11425\/revisions\/11427"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/11426"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}