Two major players in global industrial simulation, CORYS SAS (a common subsidiary of AREVA NP 66 % – and EDF – 34 %) and RSI (a 100% subsidiary of IFP Training), have announced a merger of the companies.
As of July 10, 2017, the companies will become part of the same group with the full organizational merger to be completed by the end of the year. The headquarters of the combined organization, which will take the name of CORYS SAS, will be in Grenoble, France, where both companies are based. The current CORYS CEO, Ralf Gathmann, will be CEO of the combined company, while the current CEO of RSI, Philippe Vacher, will become Chief Strategy Officer.
Through this merger, CORYS becomes the largest and most diverse provider of high fidelity, industrial-grade simulation with 350 employees world-wide. The companies have in common highly skilled teams of engineers and scientists and the ability to manage and deliver large, complex technical solutions to demanding customers in locations around the world.
The merger represents a logical consolidation of two companies with complementary skills, experience, and technologies, providing the opportunity for streamlined operations and the advantages of economy of scale. The size of the combined company will allow for greater investments in promising new technologies and business opportunities. An added benefit will be the stability provided by increased diversity of revenue sources. This operation contributes to AREVA NP’s global strategy to increase its commercial and operational excellence, while offering innovative solutions and value-added technologies.
Ralf Gathmann, CEO of CORYS says “
The merger of CORYS and RSI is an ambitious project and achieves our strategic objective to become the global leader in dynamic simulation. While any merger presents challenges, the similar of cultures of RSI and CORYS will facilitate the process.”
Philippe Vacher, CEO of RSI adds “
Both organizations provide essential simulation tools to industries with strong safety cultures that demand reliability and accuracy. It is clear that both organizations understand and will complement each other well.”
The combined company will be owned 50% by AREVA NP, 25% by EDF, and 25% by IFP Training, an affiliate of IFPEN.