US based 3D Systems has announced a definitive agreement in which it will acquire all outstanding shares of software developer Cimatron for approximately $97 million.
Cimatron, headquartered in Israel, has subsidiaries in Asia, North America and Europe and is a leading provider of 3D CAD/CAM software for the manufacturing industry. The company’s products are used by a growing number of firms worldwide for their 3D production moulds, tools, and dies in a wide variety of functional end-use manufacturing applications.
“We believe that the perfect strategic fit between our businesses, combined with expanded capabilities in product development, channel coverage and marketing, could present sizeable synergies that together offer significant long-term customer benefits and shareholder value,” stated Avi Reichental, President and CEO of 3D Systems.
“We are delighted to combine our leading 3D CAD/CAM software products with 3DS’ expanding design and manufacturing digital thread,” added Danny Haran, CEO of Cimatron. “We have always been focused on providing comprehensive, cost-effective solutions that streamline manufacturing cycles and shorten product delivery time, and as part of 3DS we can substantially accelerate our progress and extend our reach and impact.”
The transaction is subject to customary closing conditions, including requisite regulatory approvals and the approval of Cimatron’s shareholders. The boards of directors of both companies have unanimously approved the proposed transaction. The companies expect the transaction to close in the first quarter of 2015.