In line with our 3-year Strategic Plan ESI Group, today announced the sale of its non-core Fluids Simulation software product
ESI Group (ISIN Code: FR0004110310, Symbol: ESI), a global simulation and virtual prototyping software partner for the industry, today announces a new step in its strategy to focus on its “OneESI 2024 – Focus to Grow” plan by the sale of its non-core fluids simulation software product, which represented €4.6 million of revenue in FY21 for €24 million.
Last October, ESI Group presented its strategic plan “OneESI 2024 – Focus to Grow”, aiming to focus the company’s investments to support its new Core Strategic Vision, and improve its top line, and profitability.
As part of this initiative, the Group decided to sell its fluids simulation software product to a global leader and customer of the group for an amount of 24 million euros.
Selling this software product illustrates the continued execution by the Group of its strategic plan.
ESI Group continues to implement its strategic plan to keep improving its top-line growth and its profitability. The sale of this non-core asset to an industry leader, for approximately ~5 times revenue, delivers the best outcome for all its stakeholders: its customers, its employees, and its shareholders.