Research Desk Line-up: Splunk Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 21, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Exa Corp. (NASDAQ: EXA), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=EXA. Dassault Systèmes announced on November 17, 2017, that its wholly owned subsidiary, 3DS Acquisition 3 Corp., has completed the cash tender offer to buy all issued and outstanding shares of Exa. Dassault Systèmes had offered to buy Exa's shares via cash tender offer at $24.25 per share. The tender offer expired at midnight on November 16, 2017. The tender offer is the result of the agreement signed by Dassault Systèmes to acquire Exa in September 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:
http://protraderdaily.com/register/
Discover more of our free reports coverage from other companies within the Application Software industry. Pro-TD has currently selected Splunk Inc. (NASDAQ: SPLK) for due-diligence and potential coverage as the Company announced on November 16, 2017, its financial results for Q3 FY18 which ended on October 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Splunk when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow.Today, our research desk covers a blog story onEXA; also brushing onSPLK. Go directly to your stock of interest and access today's free coverage at:
http://protraderdaily.com/optin/'symbol=EXA
http://protraderdaily.com/optin/'symbol=SPLK
Details of the completed tender
At the expiry of the tender offer, the depositary and paying agent for the tender offer informed that Company that it has acquired 12,383,691 Exa's shares representing approximately 71% of the issued and outstanding shares of Exa on a fully-diluted basis. The depositary has received commitments for additional 18,202 Exa's shares as part of the guaranteed delivery procedures so that the tender offer for 71% of outstanding shares is maintained. The depositary has confirmed that it has fulfilled the terms of the tender agreement which mandated that at least one share more than 50% of the issued and outstanding Exa's shares should be validly tendered. Accordingly, 3DS Acquisition 3 Corp. will complete its portion of the deal and pay the depositary for all validly tendered shares.
The completion of the tender offer allows Dassault Systèmes to complete the acquisition of Exa. All remaining Exa's shares not tendered into the tender offer will be canceled because of the acquisition and the holders will have a right to receive the same amount of the tender offer of $24.25 per share in cash, without interest excluding taxes. Once the acquisition is completed Exa's shares will be delisted from the NASDAQ Exchange.
Dassault Systèmes' acquisition of Exa
Dassault Systèmes had announced the signing of a merger agreement to acquire Exa on September 28, 2017. The agreement was unanimously approved by Exa's Board of Directors. As part of the agreement, a subsidiary of Dassault Systèmes had agreed to commence a tender offer to acquire all issued and outstanding Exa's shares at $24.25 per share in cash within 10 days of the merger announcement. The offer price valued Exa at approximately $400 million. Exa's revenue for fiscal year ending on January 31, 2017, was $72 million.
The Company expected the acquisition to be completed in Q4 2017 subject to regulatory approvals and other closing conditions. Dassault Systèmes expected the transaction to be accretive to its earnings.
Benefits of acquisition for Dassault Systèmes
Dassault Systèmes and Exa provide simulation software for product engineering. The acquisition will allow Dassault Systèmes to access Exa's diverse portfolio of Lattice Boltzmann fluid simulation technologies and fully industrialized solutions. Dassault Systèmes would also gain a team of nearly 350 highly experienced simulation professionals as part of the deal.
The acquisition will allow Dassault Systèmes to add Exa's fully industrialized solutions to its 3DEXPERIENCE platform providing customers a diverse portfolio of fluid simulation technologies. In many scenarios where fluid flow conditions change rapidly, simulation of dynamically variable flows is critical to accurate assessments of a product and its behavior in its environment. For these applications, the combination of Exa's accuracy and timeliness provides results that are superior to those of alternative fluid simulation methods.
The integration of Exa's solutions with Dassault Systèmes existing portfolio of solutions is expected to provide customers of both companies with a wide range of integrated solutions. Customers will be able to create and analyze fluid Behavioral models across a wide range of applications.
About Exa Corp.
Founded in 1991, Burlington, Massachusetts based Exa offers visualization and simulation software. Designers and engineers in transportation and mobility Companies, as well as Companies in aerospace and defense, natural resources, and others, use Exa's software throughout the design process. Exa's solutions are used to simulate aerodynamic flow, aeroacoustics, and thermal management. With Exa's solutions, the need for costly physical prototypes and expensive late-stage changes is reduced. Some of the Exa's customers include BMW, Delphi, Denso, Fiat Chrysler, Ford, Hino, Honda, Hyundai, Jaguar Land Rover, Kenworth, Komatsu, MAN, Nissan, Peterbilt, Peugeot, Renault, Scania, Toyota, Volkswagen, and Volvo Trucks.
About Dassault Systèmes
Paris, France based Dassault Systèmes provides business and people with virtual universes to imagine sustainable innovations. The Company's simulation software portfolio is applicable to products of Companies from Natural Resources to Cities, Transportation, Buildings, Smart Products, Consumer Goods, all the way to biological systems and chemistry. The Company's 3DEXPERIENCE platform and apps enables innovators to develop a thorough understanding of their customer's expectations by analyzing social and usage information in a unique data-driven approach.
Dassault Systèmes has over 220, 000 customers across industries in over 140 countries.
Last Close Stock Review
At the closing bell, on Thursday, November 16, 2017, Exa Corp.'s stock ended the trading session flat at $24.24 with a 3-month average volume of 240.94 thousand shares. The Company's stock price skyrocketed 80.19% in the last three months, 89.34% in the past six months, and 64.42% in the previous twelve months. Moreover, the stock soared 57.78% since the start of the year. The stock currently has a market cap of $364.01 million.
Pro-Trader Daily:
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: contact@protraderdaily.com
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily
