Sandvik to acquire leading CAM software company Cambrio

SANDVIKEN, Sweden., July 1, 2021 /PRNewswire/ -- Sandvik has signed an agreement with Battery Ventures to acquire US-based Cambrio, a leading company with an end-to-end portfolio in CAD/CAM software for manufacturing industries like automotive, transportation, energy, medical and aerospace. Cambrio will be reported in the Design & Planning Automation division within Sandvik Manufacturing and Machining Solutions.

"This is in line with our strategic focus to grow organically and through acquisitions in the advanced manufacturing space, with special focus on industrial software close to component manufacturing, industrial metrology- and additive manufacturing solutions. Cambrio will enable a broadened customer offering, covering more of the total manufacturing value chain," says Stefan Widing, President and CEO of Sandvik.

Sandvik's strategic ambition is to provide customers with software solutions enabling automation of the full component manufacturing value chain – from design and planning to preparation, production and verification. Computer Aided Manufacturing (CAM) plays a vital role in the digital manufacturing process, creating an offer of automated solutions from design to machining.

By acquiring Cambrio, Sandvik will establish an important position in the CAM market that includes both toolmaking and general-purpose machining. This will complement the existing customer offering in Sandvik Manufacturing Solutions.

Cambrio's product portfolio includes GibbsCAM for production milling, turning, and mill turn operations, Cimatron for mold and die, as well as SigmaNEST for sheet metal fabrication.

"With the addition of Cambrio's product offering, we will be able to help our customers to further increase productivity in the broader value chain. We share the same desire to automate workflows and make our customers more efficient and sustainable. I look forward to welcoming the Cambrio team to Sandvik," says Mathias Johansson, President of the Design & Planning Automation division in Sandvik Manufacturing Solutions.

Cambrio is headquartered in Ohio, USA, and has 375 employees. In 2020, the company had revenues of about SEK 628 million (68 million USD) with an EBIT margin slightly dilutive to Sandvik Manufacturing and Machining Solutions. Impact on Sandvik's earnings per share will initially be neutral. The parties have agreed not to disclose the purchase price.

The transaction is expected to close in the second half of 2021 and is subject to customary regulatory approvals.

Conference call

There will be a conference call related to the intended acquisition on July 1, 2021 at 14.00 CEST for analysts, investors and financial media. The conference call will also be available in 'listen-only' mode on Sandvik's website. Please see home.sandvik for dial-in details and presentation material.

Dial-in numbers for the conference call:

SE: +46 8 505 583 66

UK: +44 333 300 9030

US: +1 646 722 4904

Stockholm, July 1, 2021

Sandvik AB

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008.

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SOURCE Sandvik