Parametric Technology Corp, Waltham, Massachusetts CAD and engineering software developer, is acquiring ICEM Technologies, a German-based division of Control Data Systems Inc for roughly $45m in cash. ICEM, headquartered in Frankfurt, develops surfacing and reverse engineering software tools, which are used by body and styling engineers in the automotive and aerospace industries. Currently. ICEM claims about 10,000 seats of its various products are used by 1,200 companies worldwide. Parametric says the buy will enhance its competitive position in automotive body engineering and styling applications and also gives it instant consulting relationships with major automotive and aerospace companies throughout Europe. The deal is expected to close within 45 days subject to regulatory and other conditions. In connection with the purchase, Parametric says it will record a one-time, non-cash charge for in process research and development during its current fiscal quarter, ending July 4.
