Intergraph acquires COADE, looks to expand plant design business
Merger "will bring a new level of functionality and support for our customers worldwide"
Enterprise engineering software provider Intergraph has acquired COADE Holdings Inc., which makes software for pipe stress, pressure vessel and storage tank analysis, as well as its CADWorx plant design suite.
The strategic acquisition of COADE is Intergraph's largest in the process, power and marine market. Terms of the deal were not disclosed.
Company officials said the acquisition will expand Intergraph's SmartPlant Enterprise engineering solution suite by bringing together the world leaders in plant design and pipe stress analysis. The expansion of Intergraph's SmartPlant Enterprise design, construction and data management solutions with COADE's analysis offerings creates a powerful software solution that will provide users in the marketplace with unmatched capabilities.
Intergraph officials added that the acquisition of the Houston-based software provider also extends Intergraph's market presence and ability to serve smaller projects with COADE's CADWorx solution, a modular, AutoCAD-based 3D plant design system. Intergraph is ranked as the No. 1 worldwide 3D design and process engineering tools provider according to the PET Worldwide Outlook Market Analysis and Forecast through 2013 by the ARC Advisory Group.
SmartPlant Enterprise is an integrated software suite that provides full design, construction, materials and engineering data management capabilities needed for the creation, safe operation and maintenance, and capital Project Life Cycle Management (cPLM) of large-scale process, power, marine and offshore projects. Intergraph remains committed to providing the process, power and marine industry with the broadest suite of engineering solutions on the marketplace today to the benefit of both EPCs and owner operators.
"The COADE acquisition advances our mission to provide best-in-class engineering solutions to our customers and target markets around the world," said R. Halsey Wise, Intergraph chairman, president and CEO. "This acquisition, the second in as many months, illustrates our continued commitment to invest in our product portfolio, our customers and in the future growth of Intergraph."
Reid French, Intergraph chief operating officer, said, "The combination of COADE's analysis software with our SmartPlant and SmartMarine Enterprise engineering suites further solidifies Intergraph's industry leadership. This acquisition brings together complementary design and stress analysis technologies that will allow us to deliver even greater value and productivity for our users worldwide."
"We believe the combination of COADE and Intergraph will bring a new level of functionality and support for our customers worldwide," said Thomas Van Laan, COADE president and CEO. "With Intergraph, we are confident of continuing the development of our product suites and the commitment to service that our customers have come to expect."
"The functional benefits of this acquisition to the engineering community and its ramifications to the industry as a whole cannot be underestimated," said Sid Snitkin, Ph.D., an industry analyst and vice president for ARC Advisory Group. "Both through new functionality developed internally as well as through acquisition, Intergraph continues to enhance the SmartPlant Enterprise solution to address the critical engineering needs across the engineering project life cycle."
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Read more: 2015 Salary Survey