Sandvik to acquire software company CGTech.
Sandvik has signed an agreement to acquire US based CGTech, a global market leader in software for numerical control (NC/CNC) simulation, verification and optimization. The product offering includes VERICUT, a machining simulation and optimization software which is CAM, machine tool manufacturer and cutting tool neutral and works stand alone or in conjunction with all major CAM suppliers. The company will be reported in
'This is in line with our strategic focus to grow organically and through acquisitions in the digital manufacturing space, with special focus on software solutions close to machining,' says
The combined machining expertise of
'It's exciting to say that we are able to expand our capabilities with CGTech. This will not only strengthen our leading market position in all parts of the world but will as well enable us to take a big step forward in offering full machining solutions to our customers, which will reduce waste significantly in their broader value chain,' says
CGTech is headquartered in
The transaction is expected to close during the last quarter of 2020 and is subject to customary regulatory approvals.
Conference call
There will be a conference call related to the intended acquisition on
Dial-in numbers for the conference call:
US: +1 833 526 8381
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