Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
French software and consulting services group Dassault Systèmes (EPA:DSY) unveiled today its plans to take over Canadian mining software provider Gemcom, in a cash deal worth about $360 million.
Michele Guimond , spokeswoman for the Vancouver-based company, said the acquisition is “a great evolutionary step in the life of Gemcom.”
“The journey over the last 27 years has taken Gemcom from an owner managed company, through a merger with Surpac, being a small capital public company, and currently as a private firm (…) Each one of these has been a great step towards where we are today,” said the company in an e-mail.
Gemcom and Dassault Systèmes will create a new brand, GEOVIA, and Gemcom’s President and CEO, Rick Moignard, will assume as GEOVIA’s CEO.
“With the acquisition of Gemcom, coupled with our 3D Experience platform capabilities, our objective is to model and simulate our planet, improving predictability, efficiency, safety and sustainability within the Natural Resources industry and beyond,” said in the press release Bernard Charlès, President and CEO of Dassault.
Gemcom’s 360 employees and management will remain in place after the closing of the transaction, said the French company.
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1 month loan
This France giant is really unstoppable Not it is acquiring Canadian mining software firm Gemcom for $360 million, quite a big amount.. did it justify.