LONDON Telelogic has paid $80million in cash to acquire I-Logix, a provider of modeling tools for the embedded market. Based in Andover, MA, I-Logix employs 133 people and its revenue in 2005 was $26.8million with 11% in operating margin providing a pre-tax profit of $ 2.9million..
Telelogic (MALMO, Sweden) says its has identified I-Logix as a highly successful, fast growing company with a market leading product that complements its own offering in the modeling space as well as many of our other products, especially those with focus on embedded applications.
Anders Lidbeck, President and CEO of Telelogic, said, “I-Logix has become a tough competitor the past years with a strong modeling offer focused on embedded systems and software development. Their products have an edge in embedded development and have managed to secure a top position in that market. By combining our two companies, Telelogic will be able to even better address our customers’ needs for developing advanced systems and software, for both the enterprise and projects.”
I-Logix develops and sells solutions for Model-Driven Development (MDD). These solutions allow engineers, operating in either small or large teams, to graphically model the requirements, behavior, and functionality of embedded systems. The design is iteratively analyzed, validated, and tested throughout the development process and production-quality code can be automatically generated at any stage, in a variety of languages. While Telelogic's TAU G2 is strong in the general modeling space, I-Logix has focused on the embedded space where it has created a very strong market position.
Gene Robinson, CEO of I-Logix, added, “We chose to become a part of Telelogic family because we believe in their vision to assemble the broadest array of 'dream-team' products and solutions for our combined market. We have had excellent growth with increasing profitability and we are now at a point where the business vision can best be realized and customer needs most effectively addressed by merging with a larger complementary organization with greater financial resources and extensive global reach.”
Telelogic is strong in the telecommunication market with its TAU G1 tool while during the past couple of years, it’s modeling solution, TAU G2, has had acceptance outside the embedded market. With I-Logix Telelogic will also strengthen its position within aerospace/defense, government, automotive, telecom, consumer products and medical segments.
I-Logix 133 employees include 67 in the US, 38 in Israel, 25 in Europe & the Far East and 3 in Asia.