RAND Worldwide Completes Sale Of Selected European Subsidiaries To Dassault Systemes

Abstract

Pursuant to the definitive agreement, Dassault Systemes acquired RAND Worldwide subsidiaries in the United Kingdom, Sweden, Germany and Switzerland, plus the subsidiary Rand Technologies C.I.S., Inc., as well as 10% of the shares of Rand North America, Inc. (with the result that Rand North America is owned 70% by Dassault and 30% by RAND Worldwide), for total proceeds of approximately Euro 32 million (approximately C$51.2 million). Under the terms of the definitive agreement, RAND Worldwide transferred the acquired subsidiaries and approximately 230 employees to Dassault Systemes.