3D System today announced a definitive agreement under which the company will acquire all of the outstanding shares of Cimatron for $8.97 per share in cash, subject to certain adjustments for Cimatron transaction expenses, for a total of approximately $97 million.
The combination of Cimatron’s products with 3DS’ portfolio strengthens 3DS’ position in the fast-growing 3D design and manufacturing space. The transaction adds complementary products and technology and extends 3DS’ direct and reseller sales coverage globally.
“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.
Israel-based Cimatron is a global provider of integrated 3D CAD/CAM software products and solutions for manufacturing. Cimatron’s products are used for 3D production molds, tools and dies in a wide variety of functional end-use manufacturing applications. With two major product lines, CimatronE and GibbsCAM®, Cimatron caters to all manufacturing sectors.
“We are delighted to combine our leading 3D CAD/CAM software products with 3DS’ expanding design and manufacturing digital thread,” said Danny Haran, CEO of Cimatron.
The transaction is subject to customary closing conditions, including requisite regulatory approvals and the approval of Cimatron’s shareholders. 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.