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Simulation Sciences Inc

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BUSINESS
June 4, 1998 | Times Wire Services
Less than two months after being acquired by British engineering group Siebe PLC, Simulation Sciences Inc. said Wednesday that two top executives have resigned. The departing executives are Charles R. Harris, president and chief executive, and Robert E. Grice Jr., chief financial officer. Siebe, one of Britain's largest engineering and electronics firms, named industry veteran Lawrence M. Gozzard to succeed Harris as president of the Brea software supplier.
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BUSINESS
August 28, 1997 | Dow Jones
Simulation Sciences Inc. agreed to acquire Biles & Associates Inc., a Houston a provider of information management and control systems for manufacturers, for $4.4 million. Simulation Sciences said it expects the transaction to close before the end of September. Simulation Sciences provides commercial simulation software and services to the petroleum and industrial-chemicals process industries and to related engineering and construction firms.
BUSINESS
May 20, 1998 | Dow Jones
British engineering group Siebe PLC has completed its acquisition of Brea software supplier Simulation Sciences for $145.5 million cash. Simulation becomes part of Foxboro Co., a Siebe division in Massachusetts that develops industrial automation software and hardware.
BUSINESS
October 31, 1997 | Dow Jones
Simulation Sciences Inc. is planning to offer another 2.6 million shares of common stock, according to documents filed Wednesday with the Securities and Exchange Commission. The software provider said existing stockholders will sell 100,000 of the shares. Proceeds from the offering will be used for working capital and general purposes. BT Alex. Brown, Wessels, Arnold & Henderson and Soundview Financial Group Inc. are underwriting the offering, which includes an over-allotment of 390,000 shares.
BUSINESS
March 26, 1997 | Dow Jones
Simulation Sciences Inc. said Tuesday it has agreed to acquire two privately held companies, Visual Solutions Inc. and Salumunek & Associates. Simulation Sciences said it will acquire Visual Solutions, which provides commercial simulation software, for $1.6 million in cash and $4.6 million in stock. Terms of the Salumunek acquisition were not disclosed. Salumunek provides plant performance monitoring software and services.
BUSINESS
October 28, 1996
Simulation Sciences Inc. stock surged 19% Friday in its debut on the Nasdaq market. The stock of the simulation software developer closed at $10.75, up $1.75. The company had sold 3.55 million shares for $9 apiece, raising $32 million in its initial public offering. The company had expected to offer the stock at $8 to $10 a share.
BUSINESS
August 30, 1996
Simulation Sciences Inc., a provider of simulation software to industrial companies, said it plans to sell 35% of its stock through an initial public offering. The company plans to sell 2.7 million shares at $8 to $10 each, according to a statement filed Thursday with the Securities and Exchange Commission. The offering would generate $21.6 million after expenses if the stock sells for $9 a share. Existing investors will offer another 745,000 shares, raising the total size of the offering to 3.
BUSINESS
March 28, 1997
Simulation Sciences Inc. said it has completed its previously announced purchase of the assets of a Houston company for $1.6 million in cash and $4.6 million in stock. Simulation Sciences, which provides commercial simulation software and related services to industrial firms, acquired substantially all of the assets of Visual Solutions Inc.
BUSINESS
September 5, 1997 | Dow Jones
Simulation Sciences Inc. said it has signed another multiyear licensing agreement with Instituto Mexicano del Petroleo to provide process simulation software and services. Financial terms were not disclosed. Instituto Mexicano del Petroleo is a research and engineering institute. Simulation Sciences provides commercial simulation software and related services to the petroleum, petrochemical and industrial chemical process industries.
BUSINESS
May 8, 1998
Simulation Sciences Inc.: The Brea supplier of software and services reported a net loss of $6.4 million, or 45 cents a share, for the first quarter, compared with a net loss of $3.7 million, or 37 cents a share, for the like period last year. The 1997 figure included a $5.2-million charge for research and development costs from an acquisition. Revenue declined 30% to $9.6 million from $13.6 million.
BUSINESS
April 16, 1998 | LESLIE EARNEST, SPECIAL TO THE TIMES
Software supplier Simulation Sciences said Wednesday it agreed to be purchased by the British engineering group Siebe PLC for $145.5 million cash. Siebe is paying $10 a share for the commercial software supplier, a 19% premium over Tuesday's closing price of $8.06. Simulation Sciences closed Wednesday at $9.81, up $1.75. Nearly 9.3 million shares changed hands in Nasdaq trading, about 38 times the average daily volume. Siebe is buying a struggling company.
BUSINESS
February 7, 1998 | From Bloomberg News
Simulation Sciences Inc. stock tumbled Friday after the maker of industrial-simulation software reported a sharp drop in fourth-quarter earnings. The company attributed the disappointing results to rising costs and delayed sales to a large customer. Simulation Sciences stock fell 43.8% to $7.44 from $13.25. The shares had slumped to a low of $5.25 earlier in the session. Nearly 9.1 million shares changed hands in Nasdaq trading, more than 30 times the average daily volume.
BUSINESS
November 21, 1997 | James S. Granelli
Simulation Sciences Inc. said Thursday that it will try to raise $48.6 million in a public offering of 2.7 million shares, some of which are being sold by certain shareholders, including its president and other officers. The Brea provider of software for the petroleum industry said it expects to sell the stock at $18 a share and to receive $43.6 million of the proceeds. Stockholders selling a total of 113,182 shares will receive $1.9 million. They include Charles R.
BUSINESS
September 5, 1997 | Dow Jones
Simulation Sciences Inc. said it has signed another multiyear licensing agreement with Instituto Mexicano del Petroleo to provide process simulation software and services. Financial terms were not disclosed. Instituto Mexicano del Petroleo is a research and engineering institute. Simulation Sciences provides commercial simulation software and related services to the petroleum, petrochemical and industrial chemical process industries.
BUSINESS
August 28, 1997 | Dow Jones
Simulation Sciences Inc. agreed to acquire Biles & Associates Inc., a Houston a provider of information management and control systems for manufacturers, for $4.4 million. Simulation Sciences said it expects the transaction to close before the end of September. Simulation Sciences provides commercial simulation software and services to the petroleum and industrial-chemicals process industries and to related engineering and construction firms.
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