3D Systems Corporation, Rock Hill, South Carolina, USA, reports that it has agreed to sell Cimatron Ltd., and its related subsidiaries, which operate the Cimatron® integrated CAD/CAM software and GibbsCAM® CNC programming software businesses, to Battery Ventures, Boston, Massachusetts, a technology-focused investment firm, for a purchase price of $65 million.
Cimatron and GibbsCAM will reportedly join a manufacturing portfolio that includes SigmaTEK Systems, a CAD/CAM software provider for the metal fabrication industry. This action is said to be part of 3D Systems’ recently announced reorganisation and restructuring plan, designed to focus the company on its strategic purpose as leaders in enabling Additive Manufacturing solutions for applications in growing markets that demand high-reliability products.
“Over the last several months, we’ve made significant progress in aligning our business to our core strengths to achieve growth,” stated Dr Jeffrey Graves, president and Chief Executive Officer, 3D Systems.
“With this announcement, we continue to demonstrate our commitment to focus on Additive Manufacturing, creating value through solutions designed to address our customers’ unique application needs,” added Graves.
Completion of the transaction is expected to occur during the fourth quarter of 2020.