SAN RAFAEL, CA - 3D software firm Autodesk Inc. said it will acquire Delcam Plc for $276 million (£172.5 million). Delcam is a leading provider of CADCAM software to the woodworking and other industries. Its ArtCAM and PowerMILL applications are popular within wood manufacturing operations.
Autodesk (NASDAQ: ADSK) issued the announcement Nov. 7. Autodesk said it plans to use its non-U.S.-based cash for the Delcam (LON: DLC) transaction, which is expected to close the first quarter of 2015.
“Today we are taking an important step on our path toward delivering a better manufacturing experience,” Carl Bass, Autodesk president and CEO, said in a statement. “Together Autodesk and Delcam will help further the development and implementation of technology for digital manufacturing.”
The move expands the California-based Autodesk's offerings to the global manufacturing marketplace. Headquartered in Birmingham, UK, Delcam has more than 30 offices worldwide, approximately 600 employees, reported revenues for its fiscal 2012 of $75.2 million (£47.1 million). In addition to woodworking, Delcam's products are used in industries ranging from aerospace to sporting goods.
“I am very excited by the opportunities from combining Delcam with Autodesk to create a compelling platform from which to service both companies’ manufacturing clients,” stated Clive Martell, Delcam CEO. “The offer is at a level which recognizes the potential of Delcam and provides an attractive opportunity for shareholders to realize value for their current holdings in cash, while at the same time opening up new opportunities for our staff and partners operating within the wider platform of the Autodesk group.”
Have something to say? Share your thoughts with us in the comments below.