Exa Corporation
 | |
| Company type | Public |
|---|---|
| Nasdaq: EXA | |
| Industry | Computer-aided engineering |
| Founded | November 21, 1991 |
| Founder | Kim Molvig |
| Fate | Acquired by Dassault Systèmes |
| Headquarters | United States  |
| Products | |
| Website | exa |
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
[edit]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
[edit]- ^ "Engineering & Design Simulations with PowerFLOW | Exa Corporation". exa.com. Retrieved 2016-07-08.
- ^ "Dassault Systèmes Successfully Completes Tender Offer for Exa Corporation". 27 January 2020.
- ^ "PowerFLOW - CFD Software Solution for Aerodynamic Design - Dassault Systèmes®".
- ^ a b c d e f g Exa Corporation (June 18, 2012). "Prospectus". Form S-1 Amendment 5. US Securities and Exchange Commission. Retrieved November 13, 2013.
- ^ 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.
- ^ 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. Retrieved November 13, 2013.
- ^ "Dassault Systèmes to Acquire Exa Corporation". Archived from the original on 2017-10-04. Retrieved 2017-10-04.
- ^ a b Exa Corporation (March 19, 2015). "Exa Reports Fourth Quarter and Fiscal 2015 Financial Results". Retrieved May 7, 2015.
Further reading
[edit]- Miller, R.; Strumolo, G.; Russ, S.; Madin, M.; Affes, H.; Slike, J.; Chu, D. (1999). A Comparison of Experimental and Analytical Steady State Intake Port Flow Data Using Digital Physics. Society of Automotive Engineers.
- Lietz, Robert; Pien, William; Remondi, Stephen (2000). A CFD Validation Study for Automotive Aerodynamics. Society of Automotive Engineers.
- Gaylard (2001). Comparison of A Conventional RANS and a Lattice Gas Dynamics Simulation - A Case Study in High Speed Rail Aerodynamics. In: Rhodes, Norman. Computational Fluid Dynamics in Practice. Oxford, UK.
- Succi, Sauro (2001). The Lattice Boltzmann Equation for Fluid Dynamics and Beyond. Oxford University Press.
- Chen, Hudong; Kandasamy, Satheesh; Orszag, Steven; Shock, Rick; Succi, Sauro; Yakhot, Victor (2003). Extended Boltzmann Kinetic Equation for Turbulent Flows. Science Magazine. Vol. 301
- Kotapati, R., Keating, A., Kandasamy, S., Duncan, B., Shock, R. and Chen, H., "The Lattice-Boltzmann-VLES Method for Automotive Fluid Dynamics Simulation, a Review," SAE Technical Paper 2009-26-0057, 2009, doi:10.4271/2009-26-0057.
- RUPESH B. KOTAPATI, RICHARD SHOCK, and HUDONG CHEN, "LATTICE-BOLTZMANN SIMULATIONS OF FLOWS OVER BACKWARD-FACING INCLINED STEPS," Int. J. Mod. Phys. C 25, 1340021 (2014) [14 pages DOI: 10.1142/S0129183113400214.
- Computational fluid dynamics
- Defunct software companies of the United States
- Software companies established in 1991
- Companies formerly listed on the Nasdaq
- Simulation software
- Computer-aided engineering software
- 2017 mergers and acquisitions
- 1991 establishments in Massachusetts
- 2017 disestablishments in Massachusetts
- Software companies disestablished in 2017
- Software companies based in Massachusetts