Sandvik completes the acquisition of leading CAM software company CNC Software Inc., creators of Mastercam
Sandvik has finalized its acquisition of CNC Software Inc., a top provider of CAD/CAM solutions, known for Mastercam, the industry's leading CAM brand. In 2020, CNC Software reported revenues of approximately USD 60 million with an EBIT margin of 25-30%, and about 60% of its revenue was recurring. This acquisition will enhance Sandvik's Design & Planning Automation division within its Manufacturing and Machining Solutions.
- Acquisition of CNC Software strengthens Sandvik's position in the CAD/CAM market.
- CNC Software's recurring revenue of approximately 60% enhances revenue stability.
- Addition of Mastercam brand could drive future growth in manufacturing technologies.
- None.
SANDVIKEN, Sweden, Sept. 30, 2021 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of US-based CNC Software Inc., a leading provider of CAD/CAM software solutions for manufacturing industries and the company behind Mastercam, the most widely used Computer Aided Manufacturing (CAM) brand in the industry.
In 2020, the company had revenues of approximately USD 60 million with an EBIT margin of 25-30 percent, and of which the share of recurring revenue was approximately 60 percent.
CNC Software will be reported in the Design & Planning Automation division within Sandvik Manufacturing and Machining Solutions.
Stockholm, September 30, 2021
Sandvik AB
For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 70 782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 70 721 1008.
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SOURCE Sandvik
FAQ
What is the significance of Sandvik's acquisition of CNC Software Inc. on September 30, 2021?
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