PARIS, NEW YORK - Lectra has announced plans to acquire New York-based Gerber Technology in a deal worth approximately $361.4 million (€300 million). Lectra specializes in CAD/CAM software and cutting technology for the upholstered furniture and other industries.

Gerber Technology also provides integrated software and automated technology, including CNC routers, to furniture and other companies around the world. The company posted 2020 revenues of approximately $198.8 million (€165 million ).

Lectra said the acquisition complements its market position and will enable it to continue to enhance its offerings based on Industry 4.0 technology. “We will have investments in innovation and technological capabilities that will be highly beneficial to the industry. They will allow us to create long-term value for our customers and our shareholders,” said Daniel Harari, Lectra chairman and CEO. “Unifying the two teams will showcase the strength of our fantastic employees. Together, we will be able to grow and expand the services we provide to our customers and help them accelerate their digital transformation.”

The acquisition is subject to merger control clearance and other customary conditions, as well as approval by Lectra shareholders. Upon its completion, Gerber Technology CEO Mohit Uberoi will assume the role of special advisor to Harari role until the end of 2021.

“It has been an honor to lead the transformation of Gerber Technology and create an efficient, comprehensive platform that enables our customers’ digital transformation initiatives," Uberoi said. "Gerber Technology and Lectra share a long history of innovation and excellent customer service that, brought together, will create an even stronger company that provides best-in-class technology solutions and services to our customers globally.”

Founded in 1973 and headquartered in Paris, France, Lectra has 34 subsidiaries across the globe, with customers in more than 100 countries. With close to 1,800 employees, Lectra (Euronext: LSS) reported revenues of approximately $337.4 million (€280 million) in 2019.