British engineering data access tools vendor Division Inc has acquired ObjectLogic Inc, a San Diego-based developer of view and access software for the manufacturing industry. The deal is valued at up to $22m, as Division has already handed over $16m in cash and stock and will pay out an additional $6m contingent upon the meeting of predetermined future sales targets. The initial $16m consisted of $4m in cash and roughly 14 million shares of parent company Division Group Plc. Division says the acquisition combines the two companies’ complementary engineering software products and personnel and will enable it to provide a wide range of products for enterprise-wide product visualization. Both companies provide software tools that enable manufacturers to visualize 3D CAD/CAM/CAE and PDM data and the two had previously focused on the same core markets in aerospace, automotive, and heavy equipment. The acquisition was finalized with a vote by Division shareholders on August 27.
