STOCKHOLM, Sweden, Oct 1, 2021 – Sandvik has completed the previously announced acquisition of US-based CNC Software Inc., a leading provider of CAD/CAM software solutions for manufacturing industries and the company behind Mastercam, the most widely used Computer Aided Manufacturing (CAM) brand in the industry.
In 2020, the company had revenues of approximately USD 60 million with an EBIT margin of 25-30 percent, and of which the share of recurring revenue was approximately 60 percent.
CNC Software will be reported in the Design & Planning Automation division within Sandvik Manufacturing and Machining Solutions.
About Sandvik Group
Sandvik is a high-tech and global engineering group offering products and services that enhance customer productivity, profitability and sustainability. We hold world-leading positions in selected areas – tools and tooling systems for metal cutting; equipment and tools, service and technical solutions for the mining industry and rock excavation within the construction industry; products in advanced stainless steels and special alloys as well as products for industrial heating. In 2020 the Group had approximately 37,000 employees and revenues of about 86 billion SEK in more than 160 countries within continuing operations.
About CNC Software, Inc.
Founded in 1983, CNC Software, Inc. is a privately held company headquartered in Tolland, Connecticut, with corporate offices in Switzerland and China. The company develops Mastercam, a suite of CAD/CAM software created to reduce production time and expense with efficient machining strategies and advanced toolpath technologies like Accelerated Finishing and Dynamic Motion. Mastercam is the world’s #1 CAM software, with more than 270,000 installations in industries such as moldmaking, automotive, medical, aerospace, consumer products, education, and prototyping. It is distributed through an international channel of authorized Mastercam Resellers in 75 countries, providing localized sales, training, and support for 2- through 5-axis routing, milling, and turning; 2- and 4-axis wire EDM; 2D and 3D design; surface and solid modeling; artistic relief cutting; and Swiss machining. For more information, visit www.mastercam.com.
