March 6, 2006
- Andover, MA
I-Logix, the leading worldwide provider of Model-Driven Development (MDD) solutions for systems design through software development announced today that it is being acquired by Telelogic AB (Stockholm Exchange: TLOG), the leading provider of software solutions that align advanced systems and software development with business objectives. The combined entity’s leadership in the SysML, UML and DoDAF modeling, simulation and code generation will create an exciting new market leader in the Embedded systems and software market.
Under the terms of the agreement, $80 million acquisition price will be paid by Telelogic in cash while I-Logix shareholders, due the distribution of internal assets, will realize a value of almost $90m. CIBC World Markets Corp. acted as exclusive financial advisor to I-Logix.
Both I-Logix Inc. and Telelogic A.B. combine to bring to users, market leading and very successful complementary array of products.
From I-Logix, Statemate™ product family the de facto standard for complex systems design, and Rhapsody™ the industry's fastest growing UML 2.0/Model Driven Development (MDD) product family.
From Telelogic, DOORS®, the de facto standard for Requirements; SYSTEMS ARCHITECT™, the de facto standard for enterprise architectural modeling with emphasis on DoDAF applications; SYNERGY™, the award-winning tool suite for task-based change and configuration management; TAU®, de facto standard for systems and application modeling for UML, SDL and SysML compliant applications and FOCAL POINT™, a comprehensive, Web-based decision-support solution for portfolio and product management.
Once the transaction is completed, I-Logix will form the core of a new Systems and Software Modeling Division of Telelogic AB. The new division will be responsible for the Rhapsody™ and Statemate™ product families as well as sales of TAU® and TAU G2.
Telelogic will emerge with the industry’s broadest family of domain specific Model-Driven-Development (MDD) solutions. Given the complementary nature of products and their market success, all products, from both companies, will continue to be aggressively developed and supported.
“We are acquiring the market leader of modeling tools for the embedded market,” said Anders Lidbeck, President and CEO of Telelogic. “I-Logix has become a tough competitor the past years with a strong modeling offer. Their products have an edge in embedded development and have managed to secure a leading position in that market. By combining our two companies, Telelogic will be able to even better address our customers’ needs for developing advanced systems and software, both for the enterprise as well as the projects. We will undoubtedly be number one in this space.”
"Telelogic and I-Logix both have a long tradition of focusing very carefully on user needs. We also share a common product development view and a commitment toward standards ranging from UML to SysML and DoDAF. I-Logix products strongly complement Telelogic’s and together our combined solutions and resources will benefit all of our customers,” said Gene Robinson, CEO of I-Logix. “We chose to become a part of Telelogic because we believe in their vision to assemble the broadest array of “dream-team” products and solutions for our market. We have had excellent growth with increasing profitability and clear product leadership. We feel we are now at a point where our business vision can be best realized by merging with a larger complementary organization with greater financial resources and extensive global reach. Being a part of Telelogic will create significantly better prospects for our users and our employees.”