PARIS – The Mathworks Inc., developer of technical computing and model-based design software, announced it has acquired PolySpace Technologies, provider of embedded software tools for the automatic detection of run-time errors at compile time. No financial details were released.
A first step occurred early April when PolySpace Technologies (Montbonnot, France) and The Mathworks (Natick, Massachusetts) announced they had collaborated to offer an integration link between Simulink and PolySpace's solutions. In the meantime, PolySpace joined the MathWorks Connections Program. Partners then explained the new link would enable embedded software developers to analyze code generated from Simulink and automatically detect design errors such as poor scaling choices, dictionary inconsistencies and other design issues in the model.
In a press conference, Jim Tung, The MathWorks' fellow and chief strategist, and Daniel Pilaud, PolySpace Technologies’ CEO, confirmed that the Mathworks acquired 100 percent of PolySpace's shares on April 12, 2007. PolySpace Technologies thus becomes a wholly-owned subsidiary of the Mathworks.
Commenting on the acquisition, Tung highlighted The Mathworks’ specific interests.
First of all, he said “PolySpace has a unique technology. It is mature as it has been used for years." He added that its tools fill a necessary gap within the Mathworks’ model-based design workflow, which will enable better quality embedded software. Beside, both companies share common cultures and fundamental goals, and their revenue mix is compatible as they focus on license sales and maintenance.
“Our customers were looking for a global solution,” continued Pilaud, specifying that the company’s tools would now be accessible through a larger and more comprehensive sales organization. Its customers will also benefit from “a better integration of PolySpace products with The MathWorks Simulink and RTW Embedded Coder.”
Tung and Pilaud agreed to say that the Mathworks would continue to support and enhance the PolySpace's products. “We may, however, reduce the number of different products,” indicated Tung.
Founded in 1999, PolySpace is the fruit of the INRIA, a French national institute for research in computer science and control, expertise in the field of software reliability and the detection of bugs in embedded systems.
Headquartered in Montbonnot, near Grenoble, the company has a presence in Montrouge (France), in London (United Kingdom), in Munich (Germany) and in Boston (United States). It counts 56 people worldwide.
Both parties agreed that the acquisition would have no impact on PolySpace's workforce and geographic location in Montbonnot.
In 2006, PolySpace reported revenues of about 6.3 million, the automotive sector accounting for one third of the annual revenues and the aerospace sector also accounting for one third. Business outside France represented 75 percent of the company’s total revenues, noted Pilaud.
As a conclusion, Pilaud said he would become business development director for the newly-formed subsidiary.