PARIS–(BUSINESS WIRE)–Regulatory News:
ESI Group (ISIN Code: FR0004110310, Symbol: ESI), a global simulation and virtual prototyping software partner for the industry, today announces a new step in its strategy to focus on its “OneESI 2024 – Focus to Grow” plan by the sale of its non-core fluids simulation software product, which represented €4.6 million of revenue in FY21 for €24 million.
Last October, ESI Group presented its strategic plan “OneESI 2024 – Focus to Grow”, aiming to focus the company’s investments to support its new Core Strategic Vision, and improve its top line, and profitability.
As part of this initiative, the Group decided to sell its fluids simulation software product to a global leader and customer of the group for an amount of 24 million euros.
Selling this software product illustrates the continued execution by the Group of its strategic plan.
ESI Group continues to implement its strategic plan to keep improving its top-line growth and its profitability. The sale of this non-core asset to an industry leader, for approximately ~5 times revenue, delivers the best outcome for all its stakeholders: its customers, its employees, and its shareholders.
- Half-year results – September 7th, 2022
- Investor’s conference – September 27th, 2022
About ESI Group
Founded in 1973, ESI Group envisions a world where Industry commits to bold outcomes, addressing high-stakes concerns – environmental impact, safety & comfort for consumers and workers, adaptable and sustainable business models. ESI provides reliable and customized solutions anchored on predictive physics modeling and virtual prototyping expertise to allow industries to make the right decisions at the right time while managing their complexity. Acting principally in automotive & land transportation, aerospace, defense & naval and heavy industry, ESI is present in more than 20 countries, employs 1200 people around the world, and reported 2021 sales of €136.6 million. ESI is headquartered in France and is listed on compartment B of Euronext Paris.
For further information, go to www.esi-group.com.
+33 1 49 78 28 28