VI-grade today announced the acquisition of 100% of the outstanding shares of Concurrent Real-Time, Inc.
, a global provider of high-performance, real-time computational hardware and software solutions, from Battery Ventures, a Boston-based PE firm, for a purchase consideration of $166.7 million (£121.2 million) in cash, subject to customary closing conditions. The transaction is in line with VI-grade’s strategy to enhance and grow its market-leading simulator platform businesses and fully integrate Hardware-in-the-Loop (HiL) technology.
Headquartered in Pompano Beach, Florida, USA, Concurrent Real-Time (Concurrent-RT) is a leading developer and supplier of hard real-time operating systems, software, and hardware that delivers simulation and control platforms for a wide range of mission-critical aerospace and automotive applications. As such, Concurrent-RT shares a number of end-markets with VI-grade where customers demand low-latency real-time solutions involving software-in-the-loop (SiL), hardware-in-the-loop (HiL), and people-in-the-loop (PiL).
The combination of the two businesses will build on VI-grade’s market-leading position in simulation software and simulator solutions by enhancing its dynamic performance, broadening its product portfolio, while improving its delivery capability and market reach. The combination will create a virtual simulation and testing company of scale in the high-growth R&D markets within automotive and aerospace and defence.
Concurrent-RT has approximately 115 employees spread across the U.S., Japan, China, and Europe. The acquisition is expected to close in Q2 pending regulatory review and approvals.