British multinational arms, security and aerospace group BAE Systems is to acquire a majority stake in Czech company Bohemia Interactive Simulations (BISim), a global software developer of simulation training solutions for military organisations, from the global private equity firm The Riverside Company, the British company announced in its press release.
“During our partnership with Bohemia, we have developed an extremely strong working relationship,” commented Riverside Partner Martin Scott. “We helped them grow from a one-product business to a three-to-soon four-product business, to internationalize sales into an unrivaled ecosystem of over 360 customers in 63 countries, to build an infrastructure scalable operating system and a professional management team, as well as supported two generations of development of the company’s flagship product,” added Scott.
The company is subject to customary regulatory and closing conditions to perform the translation. The price of the transaction was not disclosed.
“Bohemia Interactive Simulations is one of the world leaders in this field. They model specific combat situations for armies, so that soldiers become familiar with the terrain, and military commanders suffer the consequences of their decisions. The transaction is therefore worth billions of dollars,” Petr Polacek, computer game expert, former head of marketing at Bohemia Interactive, the former “mother” of BISim, told the daily. Hospodarske Noviny.
According to BAE, once the acquisition is complete, BAE Systems customers would have access to the company’s systems integration experience, complemented by BISim’s innovative training products and solutions to enhance U.S. military readiness. and their allies.
“This proposed sale of Bohemia represents the 14th exit from Riverside Europe Fund IV, delivering another strong result for our LPs. I am proud of our long and successful partnership with the Bohemia team and look forward to the next milestone in their history with BAE Systems,” said Karsten Langer, Managing Partner of Riverside Europe.
“With strategic guidance and financial support from Riverside, we have transformed Bohemia into a true global leader and laid the foundation for an exciting and continued growth story with our new owner, BAE Systems,” added Bohemia’s CEO, Arthur Alexion.
