3D Systems to Sell Cimatron and GibbsCAM Businesses to Battery VenturesNovember 3, 2020
As part of a reorganization designed to focus the company on its additive manufacturing (AM) technology and offerings, 3D Systems has signed an agreement to sell Cimatron Ltd. and its related subsidiaries, which operate the Cimatron integrated CAD/CAM software and GibbsCAM CNC programming software businesses, to Battery Ventures, a technology-focused investment firm, for $65 million. Cimatron and GibbsCAM will join a Battery-backed manufacturing portfolio that includes SigmaTek Systems, a CAD/CAM software provider for the metal fabrication industry. The transaction is expected to complete during 2020’s fourth quarter.
“Over the last several months, we’ve made significant progress in aligning our business to our core strengths to achieve growth,” says Dr. Jeffrey Graves, president and chief executive officer of 3D Systems. “With this announcement, we continue to demonstrate our commitment to focus on additive manufacturing, creating value through solutions designed to address our customers’ unique application needs.”