Sandvik has signed an agreement to acquire US-based CGTech, a specialist in software for CNC machining simulation, verification and optimisation. The company’s flagship product is Vericut. CGTech has about 180 employees and, in 2019, had revenues of about £41.5m. The transaction will likely close during the final quarter of 2020 and is subject to customary regulatory approvals.
“It’s exciting to say that we’re able to expand our capabilities with CGTech,” says Nadine Crauwels, president of Sandvik Machining Solutions. “This will not only strengthen our market position in all parts of the world, but enable us to take a big step forward in offering full machining solutions to our customers, which will significantly reduce waste in their broader value chains.”
For further information