3D Systems completes acquisition of Cimatron
ROCK HILL, SC – 3D Systems has completed its acquisition of all shares of Cimatron Ltd. for approximately $97 million, inclusive of Cimatron’s net cash.
The integration of Cimatron’s software products into the company’s portfolio strengthens 3D Systems’ leadership position in 3D-printing-centric advanced manufacturing by enabling a seamless digital workflow between design and traditional and additive manufacturing processes.
The transaction adds complementary technology, extends 3D Systems’ sales coverage globally, 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.
“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,” commented Avi Reichental, president and CEO of 3D Systems. “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.”
Cimatron is a leading provider of integrated 3D digital fabrication software for manufacturing. Cimatron’s products are used by a growing number of companies worldwide for their 3D production molds, tools and dies in a wide variety of functional end-use manufacturing applications.
With two world renowned products, CimatronE and GibbsCAM, Cimatron provides powerful digital fabrication tools for key manufacturing operations. CimatronE is an integrated CAD/CAM solution for toolmakers and manufacturers of discrete parts, which provides full associativity across the manufacturing process from quoting, through design and up to delivery. GibbsCAM, offers powerful yet simple-to-use solutions for programming any type of CNC machine tools, from simple mills and lathes, to the most complex multi-axis multi-tasking machines.
“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 3D Systems.