LOS ANGELES, Nov. 22, 2017 (GLOBE NEWSWIRE) -- B. Riley FBR, Inc. (“B. Riley FBR”), a leading full service investment bank and wholly-owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), served as the exclusive sell-side advisor to the board and shareholders of 3DSIM, the premier developer of additive manufacturing simulation software. 3DSIM was acquired by ANSYS, the global leader and innovator of engineering simulation software, in a transaction that closed on November 15, 2017. Terms were not disclosed.
3DSIM develops powerful simulation software for metal additive manufacturing. These software tools empower manufacturers, designers, materials scientists and engineers, to achieve their objectives through simulation-driven innovation rather than physical trial and error. The acquisition gives ANSYS the industry’s only complete additive manufacturing simulation workflow.
B. Riley FBR originated and negotiated the deal on behalf of 3DSIM.
“The B. Riley FBR team played a critical role in securing the right partner and structuring the deal,” said 3DSIM CEO Brent Stucker. “They were the clear choice to represent us and we are very pleased with the outcome and excited to be part of the ANSYS family.”
“This is a great opportunity for 3DSIM to expedite the adoption of its state of the art simulation software by leveraging the global reach of the ANSYS platform,” said Matthew Spain, Managing Director at B. Riley FBR. “We’re pleased to have been selected as 3DSIM’s financial advisor and for the opportunity to partner with the 3DSIM team to achieve such a favorable result for the shareholders and employees.”
About B. Riley FBR, Inc.
B. Riley FBR, Inc. is a leading investment bank which provides corporate finance, research and sales and trading to corporate, institutional and high net worth individual clients. Investment banking services include initial secondary and follow-on offerings, institutional private placements and merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries, including B. Riley FBR, Inc., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC (which includes B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.
Source:B. Riley FBR, Inc.