The CAD/CAM software provider Planit Holdings Ltd. has agreed to sell its Fusion retail business to 20-20 Technologies Inc., which is headquartered in North America. The decision to divest was in line with Planit’s strategy to focus on its core activities and become the global market leader in the provision of CAD/CAM solutions to manufacturers worldwide.
The deal is worth approximately $38 million (£19 million) excluding related transaction costs.
Planit CEO Bryan Pryce commented: “Planit is already a very strong player within the CAD/CAM sector of the manufacturing industry, and we will continue to grow our brands in markets across the globe. Therefore, reflecting on this strategy and the commercial sense that the 20-20 deal represents, I believe we are now extremely well positioned to take full advantage of the opportunities that our world-class software solutions present.”
Planit is the world’s largest supplier of design and manufacturing software for the engineering, woodworking, and stone-cutting industries, with more than 85,000 industrial seats installed around the world. Its respected Alphacam, Cabinet Vision, Cabnetware, Edgecam, Jobshop, and Radan solutions provide companies in various markets with the means to improve machine tool productivity, shorten design and manufacturing cycles, optimize material usage, and help deliver high-quality goods and services to customers.
20-20 Technologies is a global provider of CAD, business, and manufacturing software solutions targeted at the interior design and furniture industries. It operates in 13 countries and employs more than 500 people.