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TMCNet:  AVEVA Group acquires assets from Global Majic Software

[December 17, 2012]

AVEVA Group acquires assets from Global Majic Software

Dec 17, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- AVEVA Group plc, a UK-based provider of engineering design and design IT systems, has acquired all of the assets relating to the advanced visualization and simulation software from Global Majic Software, Inc., a US-based designer and developer of software components.
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The acquired assets include all intellectual property rights which will be used to support AVEVA's simulation offering for plant owner operators.

Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2012-12-17 Deal Participants Target (Company) Global Majic Software, Inc. - Assets Acquirer (Company) AVEVA Group plc Vendor (Company) Global Majic Software, Inc.

Deal Rationale The acquisition will allow AVEVA to deliver advanced simulation capabilities around the digital plant that will provide significant time, cost and safety benefits to its customers.

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