ESI Group, pioneer and world-leading provider of virtual prototyping solutions, today announced the acquisition of IC.IDO GmbH, the leading European vendor of immersive virtual reality solutions.
A German headquartered company with operations and customer presence in Europe and the United States, IC.IDO (“I see I do”) specializes in the development of collaborative decision-making solutions serving primarily industries that manufacture highly elaborated products across multi-sites. Its virtual reality technologies enable customers to clearly present, manipulate in real time and exchange product information virtually, and resolve manufacturing and serviceability issues in an immersive and distributed environment.
Founded in 2000 to industrialize advanced research from the world-famous Fraunhofer research Institutes, IC.IDO was voted startup of the year by McKinsey in 2003. Privately held, the company employs world class experts in the field of virtual reality and has gained a prestigious client base in the Automotive and Aerospace sectors as well as in Mechanical and System Manufacturing industries (OEMs). Representative customers and strategic partners include Audi, Airbus, BMW, Boeing, Bombardier, Caterpillar and John Deere. IC.IDO has built a reliable, repeatable revenue stream from existing customers, , generating sales of around €4.6 million in 2010, with a double digit EBIT margin and growth rate.
