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Herzlia, Israel and Richardson, Texas — Tecnomatix Technologies Ltd. has agreed to acquire substantially all the assets of USDATA Corp.
The acquisition is in line with Tecnomatix' vision for a complete MPM solution spanning the entire manufacturing process lifecycle.
Tecnomatix intends to integrate USDATA's SCADA product FactoryLink and its MES product Xfactory with the Tecnomatix eMPower, offering to create an environment for collaborative planning engineering and execution of manufacturing processes. This will accelerate new product introductions and provide a critical feedback loop from the factory floor to engineering, allowing manufacturers to compare shop-floor performance with original design and process plans, and to implement manufacturing improvements on an ongoing basis.
Tecnomatix announced the agreement in consideration for the issuance of up to 1,011,747 Tecnomatix shares, subject to certain adjustments. Based on the closing price of $10.16 per Tecnomatix share as of July 29, 2003, the shares to be issued as consideration for the acquisition are valued at approximately $10.3 million. As part of the asset purchase transaction, SCP Private Equity Partners II, L.P., the primary stockholder of USDATA, will purchase from Tecnomatix 113,838 of its shares at $15.65 per share.
Tecnomatix Technologies Ltd. is the driving force in Manufacturing Process Management (MPM). For more information, visit www.tecnomatix.com.
USDATA Corp. is a leading global provider of software and services that give enterprises the knowledge and control needed to perfect the products they produce and the processes they manage. For more information, visit www.usdata.com.