“TerraSim builds the world’s best terrain generation software. This acquisition accelerates Bohemia’s technical capabilities and should open new opportunities for the company,” said Riverside Partner Dr. Martin Scott, who leads Riverside’s Software and IT specialization in Europe. Working with Dr. Scott on the acquisition of TerraSim were Principal Adam Pietruszkiewicz, Vice President Ludek Palata and Vice President Marcin Goszyk.
TerraSim is a provider of terrain generation software that is used for the rapid production of 3D visualizations from heterogeneous user data. TerraSim’s software products are used in three major market segments: defense modeling and simulation; site modeling and intelligence database preparation; and civil applications including city and regional planning. The company was founded in 1996 by four members of the Digital Mapping Laboratory from the Computer Science Department at Carnegie Mellon University. TerraSim is based in Pittsburgh (www.terrasim.com).
Bohemia Interactive plans to retain operations at TerraSim’s Pittsburgh office, using existing software and database engineers and leadership, while integrating the companies and capitalizing on the enhanced software capabilities for Bohemia’s products and services.
Bohemia Interactive Simulations, acquired by Riverside in December 2012, is a developer and provider of games for training technology and interactive simulation systems sold to defense, emergency and mission-critical customers. Bohemia supplies the U.S. Department of Defense, UK Ministry of Defense, Australian Defense Force and a range of other international clients. Bohemia’s flagship product, Virtual Battle Space 2 is the de-facto industry standard within its segment. The company was founded in 2001 and has offices in Orlando, FL; Prague, Czech Republic; Hampshire, UK; and Nelson Bay, Australia (www.bisimulations.com).
“We were considering acquiring TerraSim even before the Riverside acquisition,” said Bohemia CEO Pete Morrison. “They’re an exceptional company that brings outstanding technical knowhow. This immediately makes Bohemia a stronger and more capable company.”
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $250 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in more than 300 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 75 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-18-13