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Sandvik held cash and cash equivalents of SEK 17.25 billion as of June 30, 2021. In conjunction with the closing, Sandvik will make a write-down of overlapping assets representing SEK 30 million.
The deal is expected to close during 4Q21. Sandvik will include transaction costs estimated at SEK 25 million in Q3. The impact on earnings per share will initially be slightly negative. The underlying EBITA margin is accretive to Sandvik Manufacturing and Machining Solutions. With this acquisition, Sandvik gains a CAM brand in the Mastercam software suite with an installed base of around 270,000 licenses/users.ĬNC Software's 2020 revenue totaled $60 million with an EBIT margin of 25%-30%. Tolland, Connecticut-based CNC Software, founded in 1983, is an independent, family-owned company with 220 employees.ĬNC Software will be reported in the Design & Planning Automation division within Sandvik Manufacturing and Machining Solutions. Sandvik AB (OTC: SDVKY) has agreed to acquire US-based CNC Software Inc., a CAD/CAM software solutions provider for manufacturing industries and the company behind Mastercam, for undisclosed financial terms.
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