Geometric invests in US-based enterprise software solutions firm Anark Corporation
Mumbai-based software services and consulting company Geometric Ltd, through its overseas wholly owned subsidiary Geometric Americas Inc, has invested an undisclosed amount in Anark Corporation, a provider of automated 3D CAD visualisation solutions, for an undisclosed stake.
The agreement will extend the companies' capabilities to deliver a model-based enterprise (MBE) authoring and publishing solution, Anark Core MBEWeb, which is powered by Geometric's Glovius, a customisable viewer application that enables downstream users to view high fidelity 3D data.
Through this partnership, both the companies plan to expand their global sales and marketing collaboration and jointly target enterprise manufacturers within the aerospace, defence, automotive and industrial sectors.
"The response by Geometric and Anark customers to MBEWeb has been resoundingly positive, and this extension of our technology collaboration with Geometric will provide us with greater resources and a strong channel and integration partner, who shares our commitment to empowering MBE," said Stephen Collins, president and CEO of Anark Corporation.
"We are seeing an increasing need within our customer base for consumption of 3D product data by non-engineering departments, and introduced a multi-platform and extensible visualisation solution, Glovius to address it. Our investment in Anark towards our joint solution for MBE will help us address this growing market more effectively," said Manu Parpia, CEO of Geometric.
Glovius is an extensible and customisable 3D viewer for Windows which supports all leading 3D CAD formats. It also has viewer apps for iOS and Android smartphones and tablets.
Anark Corporation provides enterprise software and solutions to manufacturing organisations that need to cost-effectively use their 3D CAD data and manufacturing information for design collaboration, manufacturing work instructions, visualisation and technical documentation applications.
A privately held company, it counts among its investors 5280 Partners, Wolf Ventures, Murphree Venture Partners, Holden Capital, as well as strategic and private investors.
Incorporated in 1994, Geometric offers services in engineering software and mechanical engineering. Its portfolio includes product lifecycle management, global engineering services and offshore product development solutions and technologies. Almost 70 per cent of its revenues come from the US market.
Part of the Godrej group, it counts ICICI Venture and ace investor Rakesh Jhunjhunwala as shareholders.
In January, the firm acquired Munich-based electronics engineering firm 3Cap Technologies GmbH for â‚¬11 million ($14.5 million) through its German subsidiary.
(Edited by Joby Puthuparampil Johnson)