Darmstadt, Germany, April 1st, 2021 – 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.
Additional information on this transaction can be found at this link.