Dassault delisting with SEC

I guess you won't be able to buy shares on Nasdaq anymore.

http://www.sec.gov/Archives/edgar/data/1016118/000094787108000511/ss47277_6k.htm

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I would take it that subscriptions are a big part of SW revenue stream
from this SEC posting.

SolidWorks seems to be treated as a little brother mainly to penetrate
the 2D market. That is kind of old.

They also seem to be saying SW is a means or entry to other Dassault
brands. I haven't really seen that happening except for 3DVia
recently.


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From http://www.sec.gov/Archives/edgar/data/1016118/000104746908004103/a2184159z20-f.htm#page_bg17302_1_4

We have a resilient financial model, with a high level of
recurring revenue. For 2007, recurring revenue represented 60% of our
total software revenue, with total software revenue accounting for 84%
of our total revenue. This high level of recurring revenue contributes
to the resiliency of our business, enabling us to continue to invest
in critical resources.

GROWTH STRATEGY

We believe there are a number of opportunities to continue to grow our
business, including:

•
Win new accounts: Leverage each brand's excellence to win new
accounts. Each of our brands can win new customers and each brand can
be an entry point for our other brands.

•
Solution selling: Provide customers integrated PLM solutions for
a broad number of users within an enterprise and throughout the supply
chain and spanning design, simulation, collaboration and digital
manufacturing. Solution selling thus enables our customers to increase
their productivity benefits beyond what they would have achieved
through a stand-alone purchase. We are also extending our presence in
the supply chain as original equipment manufacturers (OEMs) seek to
better integrate design and manufacturing through collaborating more
closely with their suppliers and as suppliers move to increase their
innovation and profitability through standardizing on the same PLM
solution. Our PLM solutions are suited to a broad range of supply
chain participants, since they have been designed to address the needs
of large-, medium- and small-size businesses.

•
Extend the use of 3D technology to new users: Expand 3D
penetration among the 2D users' community, with our SolidWorks brand
as a key driver of 2D to 3D migration, and more broadly extend the
value of 3D to new users, businesses and consumers, including with our
newest brand, 3DVIA.

•
Expand indirect sales channels: Enhance our indirect sales
channels to increase our penetration of small and medium business
enterprises and emerging markets. An important driver of our growth
has been our indirect sales channels. In the Mainstream 3D market we
have been investing in our SolidWorks indirect distribution network
and these efforts have enhanced our sales results. Similarly, in the
PLM market, we have been strengthening our indirect channels, and in
January 2007 we modified our agreement with IBM to take responsibility
for the indirect PLM Value sales channel to enhance our market
penetration and market share with small- and medium-size companies.

•
Expand our total addressable market: Expand our addressable
market towards new industries, new software markets and new types of
users. Both our product development and acquisition strategies have
been key drivers of the expansion of our addressable markets.