AMES, Iowa, Nov. 26 /PRNewswire/ -- Engineering Animation, Inc. (Nasdaq: EAII), the leader in collaborative product visualization software, today announced that it has completed the previously announced acquisition of Cimtechnologies Corporation, located in Ames, Iowa, in a private transaction in exchange for approximately $6 million in value of EAI stock.
Cimtechnologies, a privately-held company, is the world's leading
developer of factory layout software, sold under the names FactoryCAD,
FactoryFLOW, FactoryPLAN and FactoryOPT. The Factory suite of products run
inside AutoCAD to design and analyze factory layouts and production systems.
Cimtechnologies' customers include Boeing, Caterpillar, Deere & Company, Ford
Motor Company, General Motors, Hewlett Packard National Semiconductor,
Motorola and Intel. The company's revenue for the twelve months ended
September 30, 1997 was approximately $2.7 million.
"EAI's acquisition of Cimtechnologies will strengthen our ability to
create the next-generation solutions for the manufacturing industry while
helping enforce EAI's growth initiatives in U.S. and international markets,"
said Matt Rizai, EAI president and CEO. "This agreement, in conjunction with
EAI's previously announced acquisition of Rosetta Technologies will contribute
to EAI's continued expansion and leadership in the product visualization
EAI will continue to support and market the current line of
Cimtechnologies products, but will aggressively enhance these factory design
and simulation products by leveraging 3D and object oriented methodologies.
EAI also will tightly integrate Cimtechnologies' products into EAI's
VisProducts visualization and digital prototyping solutions to create a system
capable of analyzing an entire factory flow in a 3D visual environment.
Cimtechnologies' suite of Factory programs enables users to develop better
designs to support the chosen operating philosophy and reduce throughput time,
resulting in less work in progress and lower finished goods inventory.
Cimtechnologies' Factory programs are used by the aerospace, automotive,
appliance, furniture, heavy equipment manufacturing, medical and semiconductor
industries as well as by consulting firms and government and educational
EAI specializes in applying 3D visualization technology to meet the
productivity, communication, education and entertainment needs of its clients
through product visualization software and interactive products.
EAI's VisProducts software delivers best-in-class enterprise-wide product
visualization and digital prototyping solutions to companies in the
automotive, heavy equipment, aerospace, consumer electronics and other
manufacturing industries. VisProducts facilitate the concurrent engineering
process and help reduce time-to-market by identifying product defects early in
the design cycle.
EAI's corporate headquarters and technology center are located in Ames,
Iowa, with offices worldwide.