BY MIKE BOYER
The Cincinnati Enquirer
Structural Dynamics Research Corp. has agreed to acquire a Michigan-based supplier of surface-modeling software, one of the largest purchases in its history.
The Milford-based developer of design-automation and engineering data-management software Wednesday said it would buy Imageware Corp. of Ann Arbor, Mich., for $31 million in cash.
The deal, expected to close in about a month, would be SDRC's largest since it agreed to acquire the 50 percent of Metaphase Technology it didn't already own from Control Data Corp. in 1996.
The acquisition will allow SDRC to incorporate Imageware's surface modeling capability into its I-DEAS computer-aided design software.
While SDRC's I-DEAS is used to design the underlying structure of mechanical components, it hasn't had the capability to design the surfaces of automobile exteriors or interiors.
"This acquisition will position I-DEAS solutions to surpass today's standard and to deliver undisputed best-in-class surface modeling capabilities to meet the production requirements of the automotive and aerospace industries," Bill Weyand, SDRC's chairman, said.
In connection with the acquisition, SDRC said it will record a one-time, non-cash charge to write off the cost of in-process software development in the current quarter.
The company said the size of that write-off hasn't been determined.
Founded in 1991, Imageware has sales of about $12 million and employs about 100.
Imageware's customers include such leading automotive and aerospace companies as Mercedes-Benz, Volkswagen, Toyota Motor Corp., Boeing and Lockheed-Martin.
Imageware software also has the capability to take a computer-scanned version of a clay automobile model and convert that image to a computer design model, which can be manipulated for design improvements. "Imageware has proven product leadership in the areas of reverse engineering and inspection and offers promising technology and talent for surfacing applications," said Richard Riff, director of the Ford Motor Co. team integrating SDRC's software into the automotive design process.
