Sandvik to acquire CAD/CAM solutions provider CNC Software
Swedish engineering company Sandvik has agreed to acquire CNC Software Inc., a US-based CAD/CAM software solutions provider for manufacturing industries.
The terms of the deal were not disclosed.
CNC Software had developed the computer aided manufacturing (CAM) brand — Mastercam. The company will come under Sandvik Manufacturing and Machining Solutions’ design and planning automation division.
The Mastercam software suite is said to have an installed base of nearly 270,000 licenses/users apart from having a solid market reseller network and well-established partnerships with major machine makers and tooling companies.
According to Sandvik, the combination of its offering and know-how within machining with the strengths of Mastercam is expected to be a key enabler in automating the end-to-end manufacturing processes of customers.
Stefan Widing — President and CEO of Sandvik said: “This is in line with our strategic focus to grow in the digital manufacturing space, with special attention on industrial software close to component manufacturing. The acquisition of CNC Software and the Mastercam portfolio, in combination with our existing offerings and extensive manufacturing capabilities, will make Sandvik a leader in the overall CAM market measured in installed base.
“CAM plays a vital role in the digital manufacturing process, enabling new and innovative solutions in automated design for manufacturing.”
CNC Software, which was founded in 1983, is headquartered in Tolland, Connecticut. The company has a workforce of 220 and its revenue in 2020 was $60 million.
Mathias Johansson — President of the design and planning automation division in Sandvik Manufacturing Solutions said: “Mastercam will be the cornerstone in Sandvik’s CAM portfolio, further improving machining productivity by combining our machining know-how with their CAM expertise to improve quality and reduce waste for our customers.
“Specifically, we will leverage data capture and use to secure efficient tool selection and tool path optimization for our customers.”
The deal, which is subject to customary regulatory approvals, is anticipated to close during Q4 2021.