Montreal (Canada) - March 15th, 2005 - Engenuity Technologies Inc. [TSX: EGY], a global leader in visualization and simulation software solutions, today announced that it has acquired the Intellectual Property rights to the Designer’s Workbench (DWB) product line. Terms of the transaction were not disclosed. DWB, developed by Centric Software, is an advanced avionics prototyping and development tool currently in use within several major military and commercial programs.
As a result, Engenuity will inherit DWB’s large and strategically important customer base, and gain entry into major US defense programs. The company will continue to support DWB customers and generate additional business through upgrades to the latest in-house products and technologies.
“Integrating the development of avionics and simulation systems remains a key industry challenge,” said Patrice Commune, President and CEO of Engenuity Technologies. “The acquisition of DWB reinforces Engenuity’s dominance in the avionics market, while concurrently strengthening the graphics prototyping component of the company’s overall simulation offering. Moreover, the acquisition of new customers in key programs will allow Engenuity to quickly expand its global customer base to fuel short term growth. As the leader in the avionics tools market, Engenuity is a natural fit for this transaction. I am confident that DWB users will benefit in many ways from Engenuity’s 20 years of expertise in developing and supporting cutting-edge simulation and visualization software.”