Battery Ventures-backed Vero Software is sold to Hexagon

Vero Software, which was backed by Battery Ventures, has been sold to Hexagon AB. No financial terms were disclosed. Vero Software is a UK-based provider of computer aided manufacturing software.

PRESS RELEASE

NACKA STRAND, Sweden, Jul 21, 2014 (BUSINESS WIRE) — Hexagon AB (sto:HEXAB), a leading global provider of design, measurement and visualisation technologies, announced today the acquisition of Vero Software, a world leader in Computer Aided Manufacturing (CAM) software.

Vero Software is a UK-based software company with a strong brand and proven customer satisfaction track record. Their software aids the design and manufacturing process with solutions for programming and controlling machine tools, addressing the rising challenge of achieving manufacturing efficiencies with high-quality output.

Several well-known brands in Vero Software’s portfolio include Alphacam, Cabinet Vision, Edgecam, Radan, SURFCAM, VISI, and WorkNC. The company has large market coverage with offices in the UK, Germany, Italy, France, Japan, USA, Brazil, Netherlands, China, Korea, Spain and India supplying products to more than 45 countries through its wholly owned subsidiaries and reseller network.

The acquisition strengthens Hexagon’s software offerings, providing the means to close the gap of making quality data fully actionable by extending the reach of the newly developed MMS (metrology planning software) to include CAM (manufacturing planning software).

“Together with its unique suite of manufacturing software solutions, Vero Software has the expertise, knowledge and resources to deliver even higher levels of productivity to our customers,” said Hexagon President and CEO Ola Rollén. “Leveraging our global footprint, the synergies from our combined technologies will advance our strategy, supporting the growing need to integrate all data and processes across the manufacturing lifecycle.”

Vero Software will be fully consolidated as of August 2014 (closing being subject to regulatory approval) and will positively contribute to Hexagon’s earnings. The company’s turnover for 2013 amounted to approximately 80 million EUR.
Hexagon (nasdaq omx stockholm:HEXA B) is a leading global provider of design, measurement and visualisation technologies. Our customers can design, measure and position objects, and process and present data, to stay one step ahead of a changing world. Hexagon’s solutions increase productivity, enhance quality and allow for faster, better operational decisions, saving time, money and resources. Hexagon has more than 14,000 employees in over 40 countries and net sales of about 2,400 MEUR. Our products are used in a broad range of industries including surveying, power and energy, aerospace and defence, construction, safety and security, automotive and manufacturing.

Learn more at www.hexagon.com .

Leave a Reply

PEHUB Community

Join the 12505 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget