UK-based CADCAM software provider Planit has agreed to the sale of its Fusion retail business to 20-20 Technologies Inc in a deal worth £19 million, excluding related transaction costs.
The divestment is in line with Planit’s strategy to focus on its core activities and to become the global market leader in the provision of CADCAM solutions to manufacturing industry worldwide.
Planit’s CADCAM products include Alphacam, Cabinet Vision, Cabnetware, Edgecam, Jobshop and Radan.
The company, headquartered in Ashford, Kent, is the world’s largest supplier of design and manufacturing software for the engineering, woodworking and stone-cutting industries, with more than 85,000 industrial seats installed at thousands of customer sites around the globe.
“Planit is already a very strong player within the CADCAM sector of manufacturing industry and we will continue to grow our brands in markets across the globe,” said Bryan Pryce, CEO Planit Holdings (pictured). “Therefore, reflecting on this strategy and the commercial sense that the 20-20 deal represents, I believe we are now extremely well positioned to take full advantage of the opportunities that our world-class software solutions present”.
20-20 Technologies is the world's leading provider of computer-aided design, business and manufacturing software solutions tailored for the interior design and furniture industries. Dealers and retailers use its desktop and web-based products and solutions for residential and commercial markets.
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