Presagis Announces Acquisition of Seaweed Systems Inc.
Montreal, Canada – September 1, 2009 – Presagis, a leading provider of commercial-off-the-shelf (COTS) modeling, simulation and embedded display graphics software, today announced that Presagis USA Inc. has acquired long-standing partner Seaweed Systems Inc. Mirus Capital Advisors represented the Seaweed shareholders in the transaction. Terms were not disclosed.
Seaweed, based in Burlington, Massachusetts, is a leader in embedded graphics solutions for the military and aerospace market, with noted expertise in the development of safety critical graphic drivers.
As a result of this acquisition, and the companies’ existing development synergies, users will quickly benefit from the ability to develop state-of-the-art embedded graphical applications using a highly integrated solution. Moving forward, the combined solution of both VAPS XT and the SeaWind line of OpenGL graphic drivers will deliver major time and cost savings to avionic developers especially when porting and optimizing for specific hardware platforms.
“This acquisition continues the Presagis vision of delivering an unmatched portfolio of highly integrated COTS products and services to the market. With this in mind, Seaweed is a natural fit with our organization,” said Patrice Commune, President, Presagis. “Together, we offer more than 30 years of safety-critical embedded graphics experience and a shared dedication to customer satisfaction and product excellence. We look forward to welcoming the Seaweed team into the global Presagis family and leveraging our combined strengths for future success.”
As a result of the acquisition, VAPS XT software and Seaweed graphics drivers will now be jointly developed, tested, and optimized to provide the best possible performance across a wide variety of embedded target platforms. End users will also benefit from the fact that their HMI and driver development teams will be highly integrated – maximizing their efficiency and speeding delivery of robust embedded applications to market. This combination of teams helps minimize customers’ certification and system integration risk in comparison to working with two separate suppliers.
“Customers are demanding complete solutions for developing and deploying embedded systems,” said Robert Schulman, President of Seaweed Systems. “Our combined expertise enables us to provide our mutual customers with the most advanced technology on the market today – a combined solution that will drive down the risks and costs associated with the development of reliable, certifiable embedded systems.”
The acquisition of Seaweed provides Presagis with broader reach into the embedded market through delivery of a more complete offering that will include software, drivers, specialized graphic chips, and consulting services. Customers can now look forward to a single vendor solution and support organization for the procurement and delivery of safety and mission-critical embedded graphics systems.
Presagis HMI Solutions
Presagis is an established and trusted provider of HMI solutions for the embedded market. Its industry-leading HMI modeling software, VAPS XT, offers developers a RTCA DO-178B certifiable tool that enables them to efficiently design, prototype and embed applications on a wide variety of embedded targets. Furthering its commitment to delivering safety-critical solutions, the company also co-founded the DO-178 Industry Group, a Web-based portal providing essential resources to support projects requiring RTCA DO-178B certification.
Presagis is a global leader providing commercial-off-the-shelf (COTS) modeling, simulation and embedded display solutions to the aerospace and defense markets and is the only developer to deliver a unified COTS software portfolio based on open-standards. Presagis combines cutting-edge technology with innovative services to help customers streamline workflow, reduce project risks, create detailed models and complex simulations, in addition to developing DO-178B certifiable applications. The company services more than 1,000 active customers worldwide, including many of the world’s most respected organizations such as Boeing, Lockheed Martin, Airbus, BAE Systems and CAE.
About Mirus Capital Advisors
Mirus Capital Advisors provides investment banking solutions to corporate clients in technology, business services, manufacturing and distribution. Since 1987, Mirus has provided corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. For additional information, visit www.merger.com.