Company:Exa Corporation

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Exa Corporation
TypePublic
NASDAQ: EXA
IndustryComputer-aided engineering
FateAcquired by Dassault Systèmes
FoundedNovember 21, 1991
FounderKim Molvig
Products
  • PowerFLOW
  • PowerTHERM
  • PowerCOOL
  • PowerACOUSTICS
  • PowerCASE
  • PowerDELTA
  • PowerVIZ
  • PowerINSIGHT
  • PowerREALITY
  • ExaCLOUD
Websiteexa.com

Exa Corporation was a developer and distributor of computer-aided engineering (CAE) software. Its main product was PowerFLOW, a lattice-boltzmann derived implementation of computational fluid dynamics (CFD), which can very accurately simulate internal and external flows in low-Mach regimes.[1] PowerFLOW is used extensively in the international automotive and transportation industries.

On November 17, 2017, Dassault Systèmes completed acquisition of Exa Corporation.[2] Exa became part of Dassault's SIMULIA brand.[3]

History

Exa was founded in November, 1991[4] in Lexington, Massachusetts.[5] Exa raised about $2.4 million in a series of venture capital investments from April 1993 though 1994 from Fidelity Ventures and individuals.[6] More funding was obtained in 1994, 1996, 1998 and 2005, including Boston Capital Ventures as an investor. In 1999, Stephen A. Remondi became chief executive.[4]

The company filed for an initial public offering in June 2012.[4] On September 28, 2017, Dassault Systèmes announced the signing of a definitive merger agreement to acquire Exa, valuing the company at about 400 million USD.[7]

For fiscal year 2012, Exa recorded total revenues, net income and Adjusted EBITDA of $45.9 million, $14.5 million and $7.1 million, respectively.[4] Since generating its first commercial revenue in 1994, Exa's annual revenue had increased for 18 consecutive years.[4] The company was profitable in fiscal years 2011 and 2012 after recording net losses in the three preceding fiscal years.[4] Exa's total revenues and Adjusted EBITDA in fiscal year 2012 increased 21% and 51%, respectively, compared with fiscal year 2011.[4] Exa reported $61.4 million in total revenue for the full year fiscal 2015.[8] The company's total revenue was expected to be in the range of $64.7 million to $67.0 million for the full year fiscal 2016.[8]

The Exa corporate headquarters were located in Burlington, Massachusetts . The company also had U.S. offices in Livonia, Michigan, and Brisbane, California , along with offices in Europe and Asia. Exa's European headquarters were located in Paris, France , and it also had European offices in Germany , Italy and the United Kingdom . Exa's Asia headquarters were located in Japan , and its Asia offices were based out of China , India and South Korea . Exa employed over 350 people worldwide.


References

  1. "Engineering & Design Simulations with PowerFLOW | Exa Corporation". http://exa.com/product/simulation-tools/powerflow-cfd-simulation. 
  2. "Dassault Systèmes Successfully Completes Tender Offer for Exa Corporation". 27 January 2020. https://www.3ds.com/press-releases/single/dassault-systemes-successfully-completes-tender-offer-for-exa-corporation/. 
  3. "PowerFLOW - CFD Software Solution for Aerodynamic Design - Dassault Systèmes®". https://www.3ds.com/products-services/simulia/products/powerflow/. 
  4. 4.0 4.1 4.2 4.3 4.4 4.5 4.6 Exa Corporation (June 18, 2012). "Prospectus". Form S-1 Amendment 5. US Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/890264/000119312512273272/d214313ds1a.htm. Retrieved November 13, 2013. 
  5. Lewin, David I. (1997). "An Interview with Kim Molvig: Advising Fluid Dynamicists to be Discrete". Computers in Physics 11: 126. doi:10.1063/1.4822525. 
  6. Exa Corporation (April 30, 1993). "Exa Corporation Series A Preferred Stock and Warrant Purchase Agreement". Form S-1 Exhibit 4.3. US Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/890264/000119312511208397/dex43.htm. Retrieved November 13, 2013. 
  7. "Dassault Systèmes to Acquire Exa Corporation". https://www.3ds.com/press-releases/single/dassault-systemes-to-acquire-exa-corporation/. 
  8. 8.0 8.1 Exa Corporation (March 19, 2015). "Exa Reports Fourth Quarter and Fiscal 2015 Financial Results". http://investor.exa.com/releasedetail.cfm?ReleaseID=902568. Retrieved May 7, 2015. 

Further reading