***Virtual Prototypes Completes Acquisition of Loox Software
(January 16)
Virtual Prototypes has announced that it has completed the
acquisition of LOOX Software S.A., a Paris-based supplier of
software development tools for Java-based graphical and data
visualization applications for the telecommunication,
transportation and other markets. A memorandum of understanding
relative to the acquisition had been signed by the two companies
in October.
Virtual Prototypes is a supplier of collaborative engineering
development tools for mission-critical, safety-critical and
business-critical applications. Virtual Prototypes acquired 100%
of the shares of LOOX Software S.A. for a total consideration of
$4M, including cash and stock. In addition, an estimated amount
of $2M in cash is payable if certain financial performance
criteria is achieved by LOOX over the next 3 years.
LOOX already has customers in the telecommunication world such as
Alcatel, Lucent, Extreme Networks, France Telecom, ITT
Industries, Tellabs, Worldcom, Alstom. Customers in the GIS-based
(Graphical Information Systems) market include the Department Of
Transportation for Illinois, Oregon and Utah, and Alcatel CGA
Transport.
Wave Issue 0103 1/17/01 Article 4-01