Rand Worldwide, Inc. acquired the assets of Informative Design Partners for $3 million.
August 01, 2012 at 12:00 am
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Rand Worldwide, Inc. (OTCBB:RWWI) acquired the assets of Informative Design Partners for $3 million in cash and stock on July 31, 2012. The purchase price comprised of $0.6 million in cash and $0.4 million in common stock, plus contingent consideration of $2 million to be paid over three years based on earnings achieved from the acquired business.
Rand Worldwide, Inc. (OTCBB:RWWI) completed the acquisition of the assets of Informative Design Partners on July 31, 2012.
Rand Worldwide, Inc. is a supplier in the design automation, facilities and data management software marketplace. It also provides value-added services, such as training, technical support and other consulting and professional services to businesses, government agencies and educational institutions worldwide. It has five divisions: IMAGINIT Technologies (IMAGINIT), Rand Simulation, Facilities Management, ASCENT and Rand 3D. The IMAGINIT division provides Autodesk solutions and system integration and consulting services to customers in the manufacturing, infrastructure, building and media and entertainment industries. The Rand Simulation division offers Ansys engineering simulation software to help organizations incorporate. The Facilities Management division offers ARCHIBUS products for facilities management software for space planning, strategic planning and lease/property administration, and provides a full range of training, consulting and support services for the ARCHIBUS products.