Prodways Group expands its 3D software capabilities with the launch of a 3DEXPERIENCE® Cloud entity and the acquisition of a stake in XD Innovation
Prodways Group announces the launch of a European activity for the integration of the 3DEXPERIENCE® platform Cloud solutions and the acquisition of a minority stake in the share capital of XD Innovation, a major partner of Dassault Systèmes in North America.
Dassault Systèmes' 3DEXPERIENCE® platform provides sophisticated software applications: 3D design and engineering, manufacturing and production, simulation, governance and life cycle for professionals. Based on Dassault Systèmes' proven technologies (CATIA, SOLIDWORKS, SIMULIA, etc.), the 3DEXPERIENCE® can be used through an on-premise subscription or on Cloud.
Prodways Group is launching a new French company, XD Innovation Europe, focused on developing the 3DEXPERIENCE® Cloud platform. "We believe in Dassault Systèmes' 3DEXPERIENCE® strategy. This new approach to design, favoring collaboration, mobility and the extended enterprise, will eventually enable designers to use their tools differently. With "on demand" use, through monthly subscriptions, we are changing the business model. It is a strategic decision for us to build a very agile new entity in Europe, based on XD Innovation's technical experience and the Prodways Group customer base," explained Pierre-Marc Allain, Chief Executive Officer of XD Innovation Europe.
At the same time, Prodways Group announced the acquisition of a minority stake in the share capital of XD Innovation. Based in the United States, Canada and Mexico, XD Innovation is a Dassault Systèmes' major Platinum Business Partner, specialized in Dassault Systèmes' new Cloud technologies thanks to an innovative sales and services policy and a training and certification center in Silicon Valley. Created in 2014, the XD Innovation group has around 30 employees and a portfolio of customers in new technologies (drones, electric and autonomous vehicles), energy, aeronautics and the automotive industry. This profitable company posted revenue of nearly $6 M in 2019, most of which was recurrent.
"Prodways Group's stake in the share capital of XD Innovation will allow us to accelerate our roll-out and offer our customers and our partner, Dassault Systèmes, long-term support and a global vision. We will also be extending our offer by promoting Prodways Group's industrial 3D printing machines to our customers in North America thanks to our six locations," declared Soufiane Elaamili, Chairman and Chief Executive Officer of XD Innovation.
The partnership with Dassault Systèmes is strategic for Prodways Group. Controlling the creation, modification and simulation of the 3D file are major advantages for customers. Prodways is one of the few industrial 3D printer manufacturers worldwide to offer this 3D software expertise, first stage in additive manufacturing. Cloud technologies, which are approaching maturity, in the leading computer assisted design (CAD) software (CATIA, SOLIDWORKS, etc.) are opportunities to gain market share globally in this activity, which offers a high recurrence.
- About Prodways Group
Prodways Group is a specialist in industrial and professional 3D printing with a unique positioning as an integrated European player. The Group has developed right across the 3D printing value chain (software, machines, materials, parts & services) with a high value added technological industrial solution. Prodways Group offers a wide range of 3D printing systems and premium composite, hybrid and powder materials (SYSTEMS division). The company also manufactures and markets parts on demand, prototypes and small production run 3D printed items in plastic and metal (PRODUCTS division). The Group targets a significant number of sectors, from aeronautics to healthcare.
Listed on Euronext Paris, the Group reported in 2018 revenue of €61 million.
Prodways Group is a Groupe Gorgé company.
For further information: www.prodways-group.com
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Releases from the Prodways Group may contain forward-looking declarations with statements of objectives. These forward-looking statements reflect the current expectations of Prodways Group. Their realization, however, depends on known or unknown risks, uncertainties and other factors that may cause actual results, performance or events to differ significantly from those previously anticipated. The risks and uncertainties that might affect the Group's future ability to achieve its targets are reiterated and presented in detail in our Annual financial report on Prodways Group's website (www.prodways-group.com). This list of risks, uncertainties and other factors is not exhaustive. Other unanticipated, unknown or unpredictable factors may also have significant negative effects on the achievement of our objectives. The current release and the information contained therein do not constitute an offer to sell or to subscribe, nor a solicitation for an order to purchase or subscribe to shares in Prodways Group or in any subsidiaries thereof listed in whatsoever country.
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