Vero Software and Planit Holdings in business merger
03 October 2011
Vero Software has announced the merger of its operations with those of Planit Holdings, a developer of CAD/CAM software for the sheet metal fabrication and woodworking sectors. Planit Group offers its software products under the Edgecam, Alphacam, Cabinet Vision, CabnetWare, Javelin and Radan brands. Vero focuses on plastic injection moulds, sheet metal stamping dies, multi-axis milling, laser cutting and wire EDM, under the VISI, PEPS, Machining Strategist and SMIRT brands.
The combination of Vero and Planit creates the world’s leading CAM specialist, and third largest CADCAM vendor - behind Dassault Systèmes and Siemens PLM. Commenting on the acquisition, Richard Smith, CEO of Vero Software said:
"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 was funded by Battery Ventures (Boston, USA). Dave Tabors, general partner at Battery Ventures commented:
"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."
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