Last week at the 3D Printshow I heard rumours that Autodesk was to acquire UK software company Delcam, a leading supplier of advanced software for the manufacturing industry. Being caught up in the show, I mentioned it to a few people as it occurred to me that the implications of this could be huge, but noone could confirm or deny it and I had no opportunity to find out more.
Turns out it is true, and the shockwaves from this one, while largely positive, could take a while to abate. So, Autodesk plans to acquire Delcam for £20.75 per share or approximately £172.5 million in a transaction that will be structured as a cash offer for all the outstanding shares of Delcam. Obviously it’s not a done deal yet and is subject to customary closing conditions including regulatory approvals. However, it is expected to close in Autodesk’s first quarter of fiscal 2015. According to Autodesk’s Carl Bass, who commented on the proposed deal: “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.”
Headquartered in Birmingham, UK, Delcam is one of the world’s leading suppliers of advanced CADCAM and industrial measurement solutions for the manufacturing industry. Delcam’s range of design, manufacturing and inspection software provides automated 3D CADCAM solutions for a variety of industries, ranging from aerospace to toys and sports equipment. The company has more than 30 offices worldwide, approximately 600 employees, reported revenues for its fiscal 2012 of £47.1 million, and its shares trade on the London Stock Exchange under the ticker symbol “DLC.”
“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,” said Clive Martell, Delcam CEO. “The offer is at a level which recognizes the potential of Delcam and provides an attractive opportunity for shareholders to realize 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.”