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SOFTWARE INDUSTRY NEWS |
Intergraph acquires COADE |
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Intergraph, which provides enterprise engineering software to the process, power and marine industries has announced its acquisition of COADE Holdings, a company that provides software for pipe stress, pressure vessel and storage tank analysis. Terms of the deal were not disclosed. The acquisition is Intergraph’s largest in the process, power and marine market and will expand Intergraph’s SmartPlant Enterprise engineering solution suite by bringing together the world leaders in plant design and pipe stress analysis, the company said in a statement. It also extends Intergraph's market presence and ability to serve smaller projects through COADE’s CADWorx solution, a modular AutoCAD-based 3D plant design system. SmartPlant Enterprise is an integrated software suite that provides full design, construction, materials and engineering data management capabilities needed for the creation, safe operation and maintenance, and capital Project Life Cycle Management (cPLM) of large-scale process, power, marine and offshore projects. COADE’s customers would gain from Intergraph’s large research, development and global support teams that specialize in engineering solutions. They would also receive support, maintenance and software upgrades as a part of their maintenance agreement with Intergraph. Sid Snitkin, an industry analyst and VP for ARC Advisory Group said that there are functional benefits of the acquisition to the engineering community and significant ramifications to the industry as a whole. “Both through new functionality developed internally as well as through acquisition, Intergraph continues to enhance the SmartPlant Enterprise solution to address the critical engineering needs across the engineering project life cycle.” “The COADE acquisition advances our mission to provide best-in-class engineering solutions to our customers and target markets around the world,” said R Halsey Wise, Intergraph chairman, president and CEO. “This acquisition, the second in as many months, illustrates our continued commitment to invest in our product portfolio, our customers and in the future growth of Intergraph.” “We believe the combination of COADE and Intergraph will bring a new level of functionality and support for our customers worldwide,” said Thomas Van Laan, COADE president and CEO. “With Intergraph, we are confident of continuing the development of our product suites and the commitment to service that our customers have come to expect.” |
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