Autodesk Delcam Acquisition
3D CAD software giant Autodesk (NASDAQ:ADSK) has announced its intention to acquire leading advanced manufacturing computer program developer Delcam (LSE:DLC).
Autodesk has stated that it plans to set out a deal to acquire Delcam for approximately £172.5 million - or £20.75 per share - with the transaction being structured as a cash offer for all outstanding Delcam shares. Autodesk anticipates using its non-US-based cash to achieve this.
CEO and President of Autodesk Carl Bass stated: "Today we are taking an important step on our path toward delivering a better manufacturing experience. Together Autodesk and Delcam will help further the development and implementation of technology for digital manufacturing."
Birmingham-headquartered Delcam is one of the world's leading suppliers of advanced CAD/CAM and industrial measurement solutions for the manufacturing sector and is synonymous with creating files for 3D printing and additive manufacturing.
Delcam's range of design, manufacturing and inspection software provides automated CAD/CAM solutions for a range of industries, spanning from aerospace to toys and sports equipment.
Clive Martell, CEO of Delcam, commented: "I am very excited by the opportunities from combining Delcam with Autodesk to create a compelling platform from which to service both companies' manufacturing clients.
"The offer is at a level which recognises the potential of Delcam and provides an attractive opportunity for shareholders to realise value for their current holdings in cash, while at the same time opening up new opportunities for our staff and partners operating within the wider platform of the Autodesk group."
The deal is subject to customary closing conditions including regulatory approvals and could close in Autodesks first fiscal quarter in 2015.
