BASF Innovationsfonds sells shareholding in DENC to U.S. company PTC

26-Oct-2005

BASF Innovationsfonds GmbH, Ludwigshafen, has sold its 14 percent shareholding in DENC AG, Darmstadt, as part of a takeover of DENC by the U.S.-based company PTC (Parametric Technology Corporation), Needham, Massachusetts. BASF Innovationsfonds is also being repaid the loans it gave to DENC in 1999 and 2000. Further financial details were not disclosed.

BASF Innovationsfonds is a wholly owned subsidiary of BASF Aktiengesellschaft, and was established in March 1998. The venture capital provider was set up to help startups establish their businesses and to create new jobs in the regions surrounding BASF's sites in Germany. BASF's investment in DENC resulted in 46 new jobs. DENC supports companies with the optimization of their production development processes. DENC advises around 320 customers from all sectors of the manufacturing industry on the use of modern 3D technologies and the management of product data. Siemens and Bosch are among its clients.

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