Nov.24, 2014
3D Systems and Cimatron (Nasdaq:CIMT) today announced a definitive agreement under which 3DS will acquire all of the outstanding shares of Cimatron for $8.97 per share in cash, for a total of approximately $97 million, inclusive of its net cash.
Cimatron is a leading provider of integrated 3D CAD/CAM software products and solutions for manufacturing. Cimatron's products are used by companies worldwide for their 3D production molds, tools and dies. Cimatron has two major product lines, CimatronE and GibbsCAM. 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 simple to use, yet extremely powerful, solutions for programming multi-axis CNC machine tools.
The combination of Cimatron's products with 3DS' portfolio, will strengthen 3DS' position in the fast-growing 3D design and manufacturing space. 3DS management expects the acquisition of Cimatron to be immediately accretive to its cash generation and to its Non-GAAP earnings per share upon closing.
"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," commented Avi Reichental, President and CEO of 3DS.
Danny Haran, CEO of Cimatron said, "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."
Currently 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.
Posted in 3D Printing Company
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