Tata Technologies Europe Ltd., today signed an agreement in principle to sell its French Product Lifecycle Management (PLM) software retail business to Visiativ.
The agreement furthers Tata Technologies Europe's strategic divestment of PLM software retail sales as a means of providing greater focus on engineering, design and product development technology services for the automotive, aerospace and industrial machinery industries.
A specialist in PLM solutions and systems integration for the Dassault Systèmes 3DEXPERIENCE platform (Catia, Enovia), Tata Technologies in France has a portfolio of 250 PLM software clients, of which 170 are active users of Dassault Systèmes solutions. As of 31 March, the company had about 40 employees located in Paris, Strasbourg and Toulouse. Tata Technologies will continue offering French clients services for engineering, design and product development technology – including PLM.
The definitive agreement will be concluded during the month of June.
"This allows us to redeploy capital in alignment with core strategy and enable us to pursue higher-growth opportunities while creating greater value for stakeholders," said Nick Sale, Chief Operating Officer, Tata Technologies Europe.
