Global private equity and venture capital news and research

Dassault digs out $360m for purchase of private equity-backed Gemcom

26 Apr 2012

Private equity-backed mining software company Gemcom has been bought by French software giant Dassault Systèmes in a $360m deal.

The Canadian company is the world leader in mining industry software solutions, providing services to companies including De Beers, BHP Billington and Codelco.

Gemcom, which was owned by JMI Equity, Carlyle and Pala Investments, is anticipating double-digit growth over the next few years after generating revenues of about $90m in 2011.

Dassault Systèmes president and CEO Bernard Charlès said raw material provisioning and long term resource availability were major concerns for society.

He said, “With the acquisition of Gemcom, coupled with our 3D Experience platform capabilities, our objective is to model and simulate our planet, improving predictability, efficiency, safety and sustainability within the natural resources industry and beyond.”

Gemcom’s CEO and president Rick Moignard will become chief executive of Dassault’s newly created GEOVIA brand following the deal.

He said, “This acquisition will clearly benefit Gemcom’s customer base, bringing global support and enterprise collaboration.

“Advanced technologies in 3D modelling and simulation will not only enable engineers and geologists to model and visualize resources but also improve sustainable mine productivity.”

The transaction is expected to be completed in July 2012.

Earlier this month it was reported global buyout firm KKR was looking to buy and merge the diamond operations of BHP Billiton and Rio Tinto to capitalise on the recent surge in demand for jewels.

Copyright © 2012 AltAssets


Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2014