To All,
The following is an extract from a joint press release put out on Business Wire by EDS and Intergraph. I find it interesting that there's a small move to the upside in the wake of the release. Happy Trading!
Larry
October 10, 1997 05:34 PM
HUNTSVILLE, Ala.--(BUSINESS WIRE)--Oct. 10, 1997--EDS and Intergraph Corporation today announced the companies have signed a letter of intent to form a new company that will address the growing demand for high-end computer aided design and manufacturing solutions and the dynamic market for Windows-based design products. The new entity, subject to final approval by both companies boards of directors, would allow both EDS and Intergraph to expand their participation in the rapidly growing mechanical CAD/CAM market.
The new company would be formed by combining EDS Unigraphics, including its Unigraphics, Parasolid and IMAN products, with the mechanical CAD (MCAD) products of Intergraph, including Solid Edge and EMS. EDS would have majority ownership of the company.
EDS Unigraphics brings to the new company strong core competencies in the areas of complex design, engineering, manufacturing and product data management. Intergraph contributes a world-class design system, which leverages Windows technologies, and a respected development organization.
"This new company will have the capability to compete aggressively across the entire breadth of the rapidly growing mechanical CAD/CAM market," said John Mazzola, president of EDS Unigraphics. "The use of our Parasolid product as a data pipeline between Intergraph's Solid Edge and our Unigraphics package will enable data exchange and integration across any enterprise."
Mazzola continued, "Large numbers of 2D CAD users are switching to Windows-based 3D solid-modeling systems like Solid Edge. Our teaming with Intergraph allows us to respond to this rapidly evolving market opportunity." |
