DGAP-News: Nemetschek SE / Key word(s): Takeover
- Design Data's SDS/2 software solution is the premium product for steel detailing
- High-level strategic fit and significant extension of the AEC portfolio in the structural workflow
- Considerable increase in competence as a multi-material provider in the BIM market
Munich, July 28, 2016 - Software provider Nemetschek SE (ISIN DE0006452907) has agreed today to acquire 100% of the shares of Design Data Corporation, headquartered in Lincoln, Nebraska, USA.
Design Data is a leading provider of Building Information Modeling (BIM) software solutions for the structural steel detailing industry. The BIM software suite from Design Data provides sophisticated and complete solutions covering the entire steel delivery workflow, from structural calculations and detailing to fabrication and erection. Design Data's flagship product, SDS/2 Detailing, offers the highest level of automation and intelligence available in any 3D steel detailing package.
The customer base includes engineering design companies, steel fabricators, general contractors and detailers. With around 4,000 users, Design Data maintains a market share of around 45% in North America. As a strong supporter of open standards, Design Data fits perfectly into the Nemetschek philosophy by enabling collaboration of different software solutions across the building process (Open BIM). At the same time, the Group's US image as an Open BIM provider will be positively expanded.
Design Data was founded in 1981 and has 65 employees. Sales are made via direct sales and a network of partners. For the last 12 months, Design Data anticipates revenue amounting to around US $10 million. In keeping with the strategic alignment of the Nemetschek Group, Design Data will continue to be led by its current management as an independent brand company in the future.
With the acquisition, the Nemetschek Group fills a last gap in its AEC portfolio and expands its expertise in engineering detailing software for steel. Nemetschek is now able to cover the complete structural workflow from analysis and design (via the brand Scia), through detailing and fabrication (Design Data) all the way to reviews and markup (Bluebeam). At the same time, the steel structure solution expands on Nemetschek's current expertise in concrete construction. As a solution provider for steel and concrete, Nemetschek rounds off its competence as a multi-material provider, and can make even better use of its growth potential in the growing BIM market.
The Nemetschek Group simultaneously reinforces its international market presence especially in North America, the key market for Design Data with around 80% of their revenues. Design Data, in turn, will profit from Nemetschek's strong presence in Europe, where Nemetschek already has established a leading market position with its engineering solutions for concrete construction. This market coverage in Europe is an ideal basis for future growth of Design Data in that region. "Design Data fits perfectly into the strategy of the Nemetschek Group. The acquisition accelerates our internationalization, especially in the USA, and reinforces our market position as an Open BIM provider in the building process," says Patrik Heider, Spokesman and CFOO of the Nemetschek Group.
"For our company, the acquisition means accelerated growth into international markets," said Damon Scaggs, president of Design Data. "For our customers, it allows them to continue to use the leading software in the structural steel detailing industry, while now benefitting from increased integration with Nemetschek's software solutions throughout the BIM process. SDS/2 seamlessly plugs into Nemetschek's architectural and design offerings, while providing their customers access to Design Data's longstanding manufacturing expertise."
The purchase price for 100% of the shares amounts to about US $46.4 million (cash-/debt-free). This is supplemented by an earn-out component, which is linked to the increase in revenue and to profitability in the financial year of 2018. According to today's perspective, an earn-out payment amounting to US $2.5 million is forecast. The financing of the purchase price is provided by taking out of a loan in the amount of US $42 million and also by using the company's own capital resources. The acquisition is expected to be closed by the beginning of August 2016.
For further information on the company, please contact:
About the Nemetschek Group
|Phone:||+49 (0)89 92 793-0|
|Fax:||+49 (0)89 927 93-5200|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|