Dassault Systemes looks for further acquisitions-CEO

BRUSSELS Tue Nov 20, 2012 10:52am EST

BRUSSELS Nov 20 (Reuters) - French software group Dassault Systemes is looking for acquisitions to expand its product portfolio, after buying a Canadian mining-software specialist earlier this year.

Dassault Systemes bought privately held Canadian company Gemcom in April for $360 million and chief executive Bernard Charles said on Tuesday there were many related industries the group could expand into.

"We are always looking and we are targeting a lot of interesting teams around the world," Charles told Reuters on the sidelines of a company conference in Brussels.

Water consumption and water treatment was an area of specific interest to the group, Charles said, as many industrial processes still consumed too much of the vital resource.

"We want to create a virtual universe to harmonise products, nature and life, and that's what we are going to do and we have a lot of cash available to do it," he said.

"Let me add that there will be no bad surprises," Charles said regarding the company's acquisition strategy.

Charles said the integration of Gemcom was completed and a new product for the mining sector had already been launched at an industry fair in Las Vegas. (Reporting By Robert-Jan Bartunek; Editing by David Cowell)