mynth
11/2023

ESI GROUP acquired by KEYSIGHT TECHNOLOGIES

FRANCE Software / Engineering & Design Software EV 500M - 1.5b EUR

Context

Keysight Technologies acquired 100% of ESI Group through a two-stage process. First, it purchased a 50.6% controlling block from the founding Rouvray family and historical shareholders at EUR155 per share. This was followed by a mandatory tender offer for the remaining shares at the same price. By early 2024, Keysight completed the squeeze-out and delisted ESI Group from Euronext Paris. The acquisition accelerates Keysight's strategy to shift its focus "left" into the design phase of the product lifecycle by integrating advanced predictive simulation and virtual prototyping into its design and test portfolio.

ESI GROUP, which reported an EBITDA margin of LOGIN in 2022, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

ESI Group is a world-leading provider of Virtual Prototyping software and services. Founded in 1973, the company pioneered the first successful full-car frontal crash simulation. Today, its software replicates the behavior of products during testing and real-life use (Digital Twins), enabling industries like Automotive, Aerospace, and Heavy Industry to replace physical prototypes with predictive physics-based simulations. Its immersive solutions (IC.IDO) allow for collaborative virtual process validation and human-machine interaction simulation.

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Historical Financials (EUR)

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REFERENCES

Valuation range: EV 500M - 1.5b EUR

Revenue range: 100M - 200M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ESI GROUP by KEYSIGHT TECHNOLOGIES are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: keysight technologies