SOURCE: CoCreate Software

July 07, 2006 08:00 ET

CoCreate Aligns Global Presence With Global Investment Partner

New Era, New Owners for CoCreate

FORT COLLINS, CO and SINDELFINGEN, GERMANY -- (MARKET WIRE) -- July 7, 2006 -- CoCreate Software, Inc., a leading provider of 3rd Generation PLM software applications, today announced that the private equity investment arm of HBK Investments L.P., on behalf of its client funds, has acquired complete interest in the company for an undisclosed sum.

In the past five years under Triton and 3i ownership, CoCreate has undergone major transformations in its business model, financial performance, and operational effectiveness. These advances, led by both the investment board and executive management team, have positioned CoCreate as a profitable and productive business poised for growth.

"CoCreate's first half performance has been strong, signaling a momentum shift for the company with its innovative approach to 3D product development and product lifecycle management. We are very pleased to have the opportunity to leverage HBK's global perspective and strengths as we increasingly capitalize on our 3G PLM strategy," said William M. Gascoigne, CoCreate CEO.

Combining unique 3D Dynamic Modeling™ technology, open integrations to enterprise systems, and a unique collaboration platform, CoCreate offers the only true alternative within the crowded CAD/PLM industry. CoCreate's strengths naturally align to customers within verticals that are subjected to intense time to market pressures, unexpected change late in the design cycle, and a constant evolution of products.

"CoCreate offers a differentiated product suite with disruptive qualities for the CAD/PLM industry," noted Anand Gowda of HBK. "The company holds a leadership position in the history-free 3D CAD market segment and offers strong product data management and collaboration tools, which when tied together offer a low-cost, low-risk approach to the PLM process. CoCreate has strong growth prospects, and we are excited to partner with CoCreate's management and employees."

3i / Triton held the majority of the shares in CoCreate since the buyout from HP in 2000. "Since our involvement, CoCreate undertook a number of change programs and revised its strategy," said Marco Attolini and Hansjoerg Ruof, the Triton and 3i representatives and CoCreate board members. "CoCreate today is a highly profitable software business with a very interesting proposition for further growth."

About HBK Investments L.P.

HBK Investments L.P. is an investment firm with approximately $10 billion in equity capital under management. Headquartered in Dallas, the firm also maintains offices in New York, London, Tokyo, and Hong Kong.

About 3i

3i is a world leader in private equity and venture capital, focused on Buyouts, Growth Capital and Venture Capital and investments across Europe, in the United States and in Asia Pacific. 3i's competitive advantage comes from our international network and the strength and breadth of our relationships in business. These underpin the value that we deliver to our portfolio and to our shareholders. For more information, go to http://www.3i.com.

About CoCreate®

CoCreate develops 3rd generation PLM software for companies that want to accelerate their business with lean product development, fast design creation, and efficient knowledge re-use. CoCreate is also the world's #1 provider of Dynamic Modeling™ technology, an approach to 3D product development that delivers unrivaled speed, flexibility and responsiveness to change throughout the design process, and is the key enabler for lean product development. You can find CoCreate products in more than 30 countries and on the Web at http://www.cocreate.com.

CoCreate and OneSpace are trademarks of CoCreate Software GmbH.

Contact Information


  • CONTACT:

    Todd Black
    CoCreate Software, Inc. North America
    970.267.8120
    Email Contact

    Chikage Toyama
    CoCreate Software Company, Japan/Asia-Pacific
    +81.42.352.5652
    Email Contact

    Thomas Roser
    CoCreate Software GmbH, Europe
    +49.7031.951.2208
    Email Contact