Goodness – I go away for a few days, and the PLM world keeps on spinning ;-)
Here’s what happened while I was away:
Avatech Solutions (now part of Rand) reported revenue of $31.3 million for the fiscal year ended June 30 2010, down from $35.4 million a year ago. A sharp decrease in selling, general and administrative expenses enabled Avatech to report net income of $1.3 million as compared to a net loss of $313,000 fiscal 2009. Even though revenue for the year was down, revenue in the second half was up over last year, leading President and CFO Lawrence Rychlak to say that the company is “well positioned to take advantage of the recovering economy… Once we have concluded our integration efforts [as part of the merger], we will be a financially stronger company and expect to continue with our growth and diversification strategies.” Added company CEO Marc Dulude, “These solid results demonstrate how effectively the company’s operations have been managed and we look forward to bringing solutions to an even wider base of customers than the two companies were addressing individually.” [The Rand/Avatech merger closed in August, so the results above reflect the stand-alone Avatech.]
Versata Enterprises has acquired Think3 (and apparently capitalized the “T”). According to the press release, Think3 will operate as a stand-alone corporation within the “Versata family of software businesses” under the leadership of Scott Brighton, the newly appointed CEO, and Chris Smith, the newly appointed COO, of Think3. The team intends to transform “Think3 from a struggling company to one that is financially viable and successful.” Financial details of the acquisition were not disclosed.
Comet Solutions, makers of a workspace of tool-neutral simulation templates using abstract modeling, announced that revenue was up 400% through the end of September 2010, compared to the first nine months of 2009. The company reports that 80% of the company’s revenue in 2010 has come from sales to new customers in a variety of industries in North America and Asia — and that long-term customers like The Aerospace Corporation have expanded their use of Comet for structural, thermal, and optical performance analysis.
businessweek.com reported yesterday that Hexagon’s lenders closed on $2.13 billion in loans earlier this week to finance the Intergraph acquisition. According to comments made last month by Hexagon’s CEO at Intergraph’s user group meeting, regulatory appocals seems to be on track. Now the money is lined up — the deal seems like a “GO”.
You can now interact with 3D models created in Autodesk Inventor and Robert McNeel & Associates Rhino on your iPhone and iPad. Announcements last week from Robert McNeel and Autodesk highlight the fact that the world of work is changing — we want access to our data and designs wherever we happen to be. The managers of the iTunes store unfortunately put the Inventor app into the “Utilities” class (with battery management tools and barcode readers), and the Rhino app into “Productivity” (alongside to-do list apps) so solution providers will have to do some serious advertising to drive uptake.
Intergraph held CADWorx University last week, its first since acquiring COADE in January. Intergraph announced that it would be investing in Intergraph CADWorx to “expand upon its position as the world’s number one solution in the AutoCAD-based plant design market” and enable it to compete against Autodesk’s emerging AutoCAD 3D plant design product and Bentley Systems’ established AutoPlant.
Chuck Grindstaff became president of Siemens PLM on October 1, succeeding Helmuth Ludwig who is now head of Siemens Industry Automation Corporate Communications.