Mercury Computer Systems is selling its visualization sciences group to IRDI-ICSO Private Equity, based in Toulouse, France.
Mercury Computer Systems is selling its visualization sciences group to IRDI-ICSO Private Equity, based in Toulouse, France.
The purchase price paid at closing is USD12m, with an additional amount of up to USD2.5m payable upon achievement of certain performance milestones over a period ending 30 June 2013.
The group provides 3D visualization tools for engineers and scientists, delivering 3D software solutions for scientific data visualization, engineering and simulation, materials science and geosciences.
IRDI-ICSO assumes responsibility through a holding company, with VSG operating as an independent entity.
"With this transaction, we have successfully met our goal of portfolio rationalization completion before fiscal year-end," says Mark Aslett, president and chief executive of Mercury Computer Systems. "The successful match of VSG with IRDI-ICSO can provide the necessary financial support to build on VSG’s growing business in the 3D visualization space. Moreover, all VSG employees and customer commitments transition with the sale. The existing management team will also remain intact, ensuring that business operations will continue uninterrupted."
