CFD Review | AEA Technology Will Sell CFX Business in 2002

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AEA Technology Will Sell CFX Business in 2002

Posted Mon June 04, 2001 @10:54AM

The AEA Technology board of directors has announced that they are in exclusive talks with an undisclosed party to buy the Hyprotech business from AEA Technology Engineering Software.

A completed Hyprotech sale would leave CFX as the sole business of AEA Technology Engineering Software because the profitable n-Code business was moved over to AEA Technology Rail last year.

...the Board considers that the disposal of Hyprotech offers more value than continuing to pursue strategic partnerships. Exclusive discussions regarding the disposal of the Hyprotech business are proceeding with the aim of agreeing terms in this half of the group's financial year.

The performance of the CFX business is improving and the Board expects to sell this business during the course of 2002.

There is no mention of possible parties interested in aquiring CFX.

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