CIMdata PLM Industry Summary Online Archive
26 May 2004
Acquisitions
Tribon Acquisition Highlights Strongest-Ever Position for AVEVA
AVEVA has announced the completion of its acquisition of Tribon Solutions, a global marine software design company.
Already providing outfitting solutions to seven of the world's top ten ship builders, buying Tribon makes AVEVA the world's number one provider of marine IT solutions. A staggering 74% of the top 50 shipbuilders use Tribon for hull design and outfitting and, on average, a Tribon-designed vessel is launched every day. The transaction, costing £19 million (US$34.2 million), is the latest achievement within a program of significant growth and development.
Formerly known as Cadcentre and beginning in 1967, AVEVA began to rename in 2000, when its solutions and services portfolio went beyond the provision of just Computer Aided Design (CAD). This was followed by the launch of the Consulting and IT Managed Services divisions and the opening of several new offices across the world.
By 2002, the Group had totally rebranded its operating divisions under the AVEVA name and its products under the VANTAGE brand. The consolidation was followed by a quick succession of breakthrough technologies.
In 2003, AVEVA's formal alliance with Autodesk had a radical effect on the engineering community. By bringing together the two separate practices of drawing-centricity and data-centricity that had divided much of the industry for several decades, the alliance accelerated design office production and brought the safety of IT integration to many engineering practices-cutting the amount of time engineers spent pulling information from one application into another.
The success of the program is reflected in AVEVA's financial performance. In 1999, The Group announced a turnover of £17.9 million (approximately US$28.6 million at the time). As a result of expansion, product development and alliance, it has shown consistent, significant growth in often turbulent markets. Its latest end-of-year announcement showed a turnover of £38.1 million (approximately US$68.6 million). The combined turnover of the enlarged group at the date of acquisition was £52.5 million (US$94.5 million).
Richard Longdon, CEO, AVEVA Group, commented: "This is a very exciting move for AVEVA and an extremely significant one for the engineering industry. In terms of market share, technology and breadth of proposition Tribon is the world's leading solution provider for ship design and construction. Combined with AVEVA's solid product evolution, its history of innovation and its performance in the power, offshore and process industries; we now present the world with its greatest and most powerful engineering IT proposition."
AVEVA Group plc operates globally through three divisions: AVEVA Consulting, AVEVA Managed Services and AVEVA Engineering IT. A fourth division, AVEVA Solutions, is responsible for product development. The group's technology has been integral to the engineering process of industrial plants with a value in excess of US$500 billion for more than 800 clients across the globe, including leading plant owner/operators and engineering contractors such as 3M, Aker Kvaerner, ALSTOM Power, AMEC, BASF, DSME, DuPont, Engineers India Limited, Electricité de France, Foster Wheeler, Framatome, Hitachi, Kawasaki Heavy Industries, KBR, Merck, Mitsubishi Heavy Industries, Petronas Carigali, Samsung Heavy Industries, Shell, Technip and Uhde.
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