Vero Software, a leading provider of CAD/CAM/CAE solutions for the tooling industry, has announced the merger of Vero Software and Planit Holdings, a leading developer of CAD/CAM software for the production engineering, sheet metal, metal fabrication and woodworking sector.
The Planit Group offers its software products globally under the Edgecam, Alphacam, Cabinet Vision, CabnetWare, Javelin and Radan brands.
The combination of Vero and Planit creates the world’s leading CAM specialist, and third largest CADCAM vendor - only behind Dassault Systèmes and Siemens PLM *. The merger of the two organisations will provide the platform to build even stronger products through significantly enhanced development capabilities and further extend a growing influence on the global market.
Commenting on the acquisition, Richard Smith, CEO of Vero Software says, "Across the enlarged Group, the complementary products address the worldwide need for CAD/CAM/CAE technology in a large variety of focussed manufacturing processes enabling us to accelerate our growth. With greater critical mass we will be able to continue to provide excellent service and support to both existing and new customers. We fully recognise the importance of product branding and customer loyalty, and therefore, it is important to emphasise that we will continue to invest in all of the products. We will move forward together with the expertise, knowledge and resources necessary to deliver even higher levels of productivity to our customers."
The merger has been funded by Battery Ventures (Boston, USA) who have been investing for more than 25 years in technology-driven companies and work hard with management to build their presence into global market leaders.
Dave Tabors, General Partner at Battery Ventures comments, "We are pleased to enter into this transaction with Planit, and are excited about the prospects ahead for the combined group. We believe that both Vero and Planit have been following a very smart strategy in a highly fragmented market. With strong products, a high quality management team, and the respect of its customer base worldwide, the company is well positioned for future growth - both organically and through acquisition."
* Source : CIMData
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