Cimatron acquires Italian distributor

Cimatron Ltd. (www.cimatron.com) has bought the remaining 49 percent of its Italian distributor Microsystem SRL for $1.25 million.

Israel-based Cimatron acquired 27.5 percent of Microsystem in 2005 and then increased its holding to 51 percent in 2007.

The acquisition is scheduled to close in the second half of July.

Israel-based Cimatron, a developer of computer aided design and manufacturing software for the toolmaking and manufacturing industries, acquired 27.5% of Microsystem in 2005 and then increased its holding to 51% in 2007.

Danny Haran, president and chief executive officer of Cimatron, said, "The increase in our holding in Microsystem to 100 percent is the final stage of our investment in Microsystem, that was meant to strengthen our leading position in Italy, one of our key markets in West Europe."

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish