Prodways Group strengthens its position in 3D software
Prodways Group announces the launch of an activity in Europe for the integration of new Cloud solutions of the 3DEXPERIENCE® platform and the acquisition of a minority stake in XD Innovation, a major partner of Dassault Systèmes in North America.
Prodways Group is launching a new company in France, XD Innovation Europe, dedicated to the development of the 3DEXPERIENCE® Cloud platform. ” We are convinced of Dassault Systèmes’ 3DEXPERIENCE® strategy. This new way of designing, by promoting collaboration, mobility and the extended enterprise, will eventually allow designers to “consume” their tools differently. With an “on demand” use, via monthly subscriptions, we realize a change of business model. It seemed strategic to us to build a new, highly agile entity in Europe, leveraging the technical expertise of XD Innovation and the customer base of the Prodways Group. “explains Pierre-Marc Allain, Managing Director of XD Innovation Europe.
At the same time, Prodways Group announces that it has acquired a minority stake in XD Innovation. With offices in the United States, Canada and Mexico, XD Innovation is the first Dassault Systèmes Platinum Business Partner, specializing in new Dassault Systèmes Cloud technologies through an innovative sales and services policy and a training and certification center in Silicon Valley. Founded in 2014, XD Innovation Group has about 30 employees and a portfolio of customers present in new technologies (drones, electric and autonomous vehicles), energy, aeronautics and automotive. The company achieved a revenue of nearly $6 million in 2019, with a significant portion being recurring revenue.
” Prodways Group’s acquisition of a stake in XD Innovation will enable us to accelerate our deployment and provide our customers and our partner Dassault Systèmes with a long-term global vision. We will also expand our offering by promoting Prodways Group’s industrial 3D printing machines to our customers in North America through our six locations “said Soufiane Elaamili, President and CEO of XD Innovation.
The partnership with Dassault Systèmes is strategic for Prodways Group. Mastering the creation, modification and simulation of 3D files are major assets for customers. Prodways is one of the few manufacturers of industrial 3D printers in the world to offer this software competence, the first step in additive manufacturing. The maturing cloud technologies in the leading computer-aided design (CAD) software(CATIA, SOLIDWORKS, etc.) offer opportunities to capture market share worldwide in this highly recurrent business.
About Prodways Group
Prodways Group is a specialist in industrial and professional 3D printing with a unique position as an integrated European player. The Group has developed across the entire 3D printing value chain (software, printers, materials, parts & services) with a high value-added technological industrial solution. Prodways Group offers a wide range of 3D printing systems and premium composite, hybrid and powder materials (SYSTEMS division). The Group also manufactures and markets custom parts, prototypes and small series printed in 3D, plastic and metal (PRODUCTS division). Prodways Group addresses a large number of sectors, such as aeronautics and healthcare.
Listed on Euronext Paris, the Group generated revenues of €61 million in 2018.
Prodways Group’s press releases may contain forward-looking statements regarding objectives. These forward-looking statements reflect Prodways Group’s current expectations. However, their realization depends on known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ materially from those anticipated. The risks and uncertainties that could affect the Group’s ability to achieve its objectives are described in detail in our Financial Report available on the Prodways Group website(www.prodways-group.com). These risks, hazards and other factors are not exhaustive. Other unanticipated, unknown or unpredictable factors could also have a material adverse effect on the achievement of our objectives. This press release and the information contained herein do not constitute an offer to sell or subscribe to, nor a solicitation of an order to buy or subscribe for shares of Prodways Group or its subsidiaries in any country.
Cassandre Maximoff Marketing & Communication Officer
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