CHELMSFORD, Mass - Mercury Computer Systems, Inc. (NASDAQ: MRCY), a leading provider of embedded, high-performance computing systems and software for complex image, sensor, and signal processing applications, announced that it signed a definitive agreement and closed on the sale of its Visualization Sciences Group (VSG) to IRDI-ICSO Private Equity, based in Toulouse, France. The purchase price paid at closing is US$12 million, with an additional amount of up to US$2.5 million payable upon achievement of certain performance milestones over a period ending June 30, 2013.
VSG provides advanced 3D visualization tools for engineers and scientists, delivering high-end 3D software solutions for scientific data visualization, engineering and simulation, materials science and geosciences. IRDI-ICSO assumes responsibility through a holding company, with VSG operating as an independent entity.
"With this transaction, we have successfully met our goal of portfolio rationalization completion before fiscal year-end," said Mark Aslett, President and CEO of Mercury Computer Systems. "The successful match of VSG with IRDI-ICSO can provide the necessary financial support to build on VSG's growing business in the 3D visualization space. Moreover, all VSG employees and customer commitments transition with the sale. The existing management team will also remain intact, ensuring that business operations will continue uninterrupted."
IRDI-ICSO Private Equity is the largest independent regional actor in France, managing funds at risk (FCPR) and Investment Funds Proximity (FIP) to cover the needs for capital funding in the West and South of France and Northern Spain.
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