Newport Beach-based MSC Software Corp. will be sold to Hexagon AB for $834 million, the companies announced Thursday.
MSC, which specializes in simulation software, has more than 1,200 employees in 20 countries. Hexagon AB is a Swedish IT service provider.
MSC, according to its website, was formed in 1963 as MacNeal-Schwendler Corp. It works extensively in the aerospace industry. In July 2009, the company was acquired by the private equity firm Symphony Technology Group in Palo Alto for $360 million. In 2011, the company’s name was shortened to MSC Software.
The acquisition by Hexagon is expected to be complete in April.
MSC will operate as an independent business in Hexagon’s manufacturing division.
“MSC represents a game-changer in our mission to deliver actionable manufacturing intelligence, taking us another step closer to realizing our smart connected factory vision in discrete manufacturing industries such as automotive and aerospace,” said Hexagon President and CEO Ola Rollén, in a statement. “We can now leverage the data our MI division is generating to improve design choices and processes upstream in the workflow. The acquisition will also open up new markets and touchpoints for MSC via our Process, Power & Marine division.”
MSC posted sales of $230 million last year.
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