Sandvik completes the acquisition of CAM reseller Cimquest

Rhea-AI Summary

Sandvik completes acquisition of CAM reseller Cimquest, impacting EBITA margin positively with limited effect, while boosting earnings per share.

Positive

• Sandvik successfully acquires Cimquest, a US-based CAM solutions reseller.
• Cimquest, a major player in the Mastercam network, joins Sandvik's Mastercam business unit.
• Cimquest, with 55 employees, had revenues of approximately 26 MUSD in 2023.
• The acquisition will be reported under Sandvik Manufacturing and Machining Solutions.
• The impact on Sandvik's EBITA margin will be minimal.
• However, the acquisition is expected to have a positive effect on earnings per share.

Negative

• None.

STOCKHOLM, March 4, 2024 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of Cimquest, a US based reseller of Computer Aided Manufacturing (CAM) solutions and one of the largest resellers in the Mastercam network. Cimquest will be a part of business unit Mastercam and will be reported within business area Sandvik Manufacturing and Machining Solutions.

Cimquest, founded in 1990, is headquartered in Branchburg, New Jersey, and has 55 employees. In 2023, the company had revenues of around 26 MUSD*. The impact on Sandvik's EBITA margin will be limited. Impact on earnings per share will be positive.

*A limited part of Cimquest revenues in 2023 were to Sandvik-owned Mastercam and will not impact Group total external revenues.

Stockholm, March 4, 2024
Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008

The following files are available for download:

https://mb.cision.com/Main/208/3940049/2643512.pdf

Sandvik completes the acquisition of CAM reseller Cimquest

 

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SOURCE Sandvik

FAQ

What company has Sandvik acquired recently in the CAM solutions sector?

Sandvik has completed the acquisition of Cimquest, a US-based reseller of CAM solutions.

In which year was Cimquest founded?

Cimquest was founded in 1990.

How many employees does Cimquest have?

Cimquest has 55 employees.

What were Cimquest's revenues in 2023?

Cimquest had revenues of around 26 MUSD in 2023.

What is the expected impact on Sandvik's EBITA margin from the acquisition?

The impact on Sandvik's EBITA margin will be limited.

Will the acquisition have a positive or negative impact on Sandvik's earnings per share?

The acquisition is expected to have a positive impact on earnings per share.