Oct 14

Written by: Russ Henke
10/14/2009 4:01 PM 

In this space on September 30, 2009, the then-latest news on MSC,Software appeared, in a blog article entitled, “MSC.Software…in the news again…”.

As of today, October 14, the company posted a Press Release on its website announcing that Symphony Technology Group (STG) had successfully completed its acquisition of MSC.Software Corporation.

Under the terms of the deal, Maximus Holdings Inc., an investment vehicle of STG and co-investor Elliott Management Corporation has purchased all outstanding shares of MSC stock for a price of $8.40 per share in cash, a total purchase price of approximately $390 million.

Moreover, industry veteran Dominic Gallello joins MSC as CEO. Gallello comes to MSC from Graphisoft, a Budapest-based architectural design software developer, where he was CEO. In addition, Jim Johnson joins MSC as CFO. Johnson was most recently CFO of VG Holdings, a videogame producer that was acquired by Electronic Arts in 2007.

You can access the entire Press Release by copying & pasting this URL into your browser:
http://www.mscsoftware.com/About-Us/News/Default.aspx?articleid=1131