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.
“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 toolmaking, general-purpose machining and sheet metal fabrication. This will complement the existing customer offering in Sandvik Manufacturing and Machining Solutions.
Cambrio’s product portfolio includes GibbsCAM for production milling, turning, and mill turn operations, Cimatron for mold and die design and manufacturing, 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 and Machining 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). The company will be included as a business unit in the Design & Planning Automation division within Sandvik Manufacturing and Machining Solutions.
Robbie Payne, CEO of Cambrio says: “We are excited to be joining the Sandvik family and look forward to continuing our mission of providing powerful software solutions that enable our customers to succeed. There is an obvious cultural and strategic alignment here allowing us to utilize the extensive experience of Sandvik, to expand our automated solutions across the digital manufacturing process.”
Morad Elhafed, General Partner of Battery Ventures says: “At Battery Ventures, we’ve long been enthusiastic about the CAD/CAM market, and we’ve enjoyed working with the Cambrio team to grow the company. We believe Sandvik is the right home for this business and are excited to see how Cambrio’s technology continues to develop and serve its customers going forward.”
The transaction is expected to close in the second half of 2021 and is subject to customary regulatory approvals.
