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[January 07, 2013]
Bohemia Interactive Simulations announces investment by The Riverside Company
Jan 07, 2013 (M2 PRESSWIRE via COMTEX) -- Bohemia Interactive Simulations (BISim) is very excited to announce its partnership with the private equity firm The Riverside Company (
who recently made a significant investment in the company. Riverside's interest is underpinned by its strong belief in the potential of games for training, and BISim's proven Virtual Battlespace (VBS) training environment.
VBS has become one of the most widely used training simulations in western militaries and, as a result, BISim has experienced significant growth over the past decade. BISim has established offices in Australia, the Czech Republic, the United States, the United Kingdom and Poland and has important enduring contracts to support military organizations including the United States Marine Corps, United States Army, United Kingdom Ministry of Defence and the Australian Defence Force.
Based on extensive ongoing development of VBS and multi-national expansion, BISim expects to grow strongly over the next few years. Riverside, with its experience in working with smaller, high growth companies and its international presence, is an ideal partner for BISim, and will assist the company to further expand its multi-national operations and development teams. BISim's innovation plans for VBS will focus on meeting our clients ongoing and additional training requirements as well as further leveraging cutting-edge game technology.
Peter Morrison, the CEO of BISim, said "We are very proud that Riverside has chosen to partner with BISim, as a very experienced and mature private equity firm. We look forward to years of further success built upon game-based training technology." The existing BISim management team remains essentially unchanged into 2013, with Peter Morrison continuing as the CEO and Dr Mark Dzulko the CTO. John Givens is the President of the US office, and Ryan Stephenson the Managing Director of the Australian team. Colin Hillier and Oli Arup continue as the Directors of the UK studio. BISim is also pleased to announce the appointment of Arthur Alexion as the new Deputy CEO. Arthur has a wealth of experience in managing growth companies and he is a welcome addition to the BISim team.
CN Finance and BDA (Business Development Asia LLC) were joint financial advisors to the Sellers. Their legal advisor was Advokatni kancelar Erhartova Vitek.
Bohemia Interactive Simulations BISim is a world leader in providing simulation technologies and integrated training solutions for government and commercial organisations. With origins in the gaming industry, BISim has repeatedly delivered high fidelity, low cost, disruptive technology into the virtual simulation domain. BISim has successfully exploited gamebased technology with stunning visuals and applied this to a range of breakthrough simulation products. Our flagship product, VBS2, is employed for daily tactical training and mission rehearsal by most western militaries.
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The Riverside Company The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (EUR200 million in Europe). Since its founding in 1988, Riverside has invested in more than 300 transactions. The firm's international portfolio includes more than 70 companies.
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