3D Systems has extended its global sales coverage with the acquisition of Cimatron, a leading provider of integrated 3D digital fabrication software for manufacturing.
Cimatron develops and distributes CAD/CAM software for the manufacturing industry and provides powerful digital fabrication tools for key manufacturing operations with its two world renowned products, CimatronE and GibbsCAM®.
CimatronE is an integrated CAD/CAM solution for toolmakers and manufacturers of discrete parts, while GibbsCAM offers powerful yet simple-to-use solutions for programming any type of CNC machine tools.
According to the official press release issued by 3D Systems, the deal is worth approximately $97 million, inclusive of Cimatron’s net cash.
The integration is set to strengthen 3D Systems’ advanced manufacturing leadership reach and portfolio and extend global sales coverage and cross selling opportunities.
“Cimatron represents a perfect strategic fit for our business by providing expanded capabilities in product development, sales coverage and complementary technology. We believe that this combination offers unique synergies with significant long-term customer benefits and shareholder value. We are delighted to welcome Danny Haran and his entire global team to 3DS as we complete the digital thread from design to digital fabrication,” commented Avi Reichental, President and CEO of 3DS.
“With a 30 year track record of providing comprehensive, cost-effective solutions that streamline manufacturing cycles and shorten product delivery time, it is the perfect time to become part of 3DS where we can substantially accelerate our progress and extend our reach and impact,” said Danny Haran, former CEO of Cimatron, who was named Executive Vice President and Chief Operating Officer, Software of 3DS.
The transaction incorporates the addition of complementary technology and the extension of 3DS’ sales coverage on a global scale.
It also multiplexes cross-selling opportunities and is expected to be accretive to the company’s cash generation and Non-GAAP earnings per share for the full year 2015.
