Planit Holdings, a leading developer of CAD/CAM software for the production engineering, sheet metal, metal fabrication and woodworking sector, has announced the merger of Planit Holdings and Vero Software, a leading provider of CAD/CAM/CAE solutions for the tooling industry.
Vero focuses on plastic injection moulds, sheet metal stamping dies, multi-axis milling, electrode production, multi-axis laser cutting and wire EDM, offering its software products globally under the VISI, PEPS, Machining Strategist and SMIRT brands. The combination of Vero and Planit creates a leading CAM specialist, and third largest CADCAM vendor - only behind Dassault Systèmes and Siemens PLM*.
According to a company news release, the merger of the companies will provide the platform to build even stronger products through significantly enhanced development capabilities and further extend a growing influence on the global market.
Richard Smith, CEO of Vero Software says, “… the complementary products (of the merged companies) address the worldwide need for CAD/CAM/CAE technology in a large variety of focused manufacturing processes enabling us to accelerate our growth.
“With greater critical mass we will be able to continue to provide excellent service and support to both existing and new customers. We fully recognize the importance of product branding and customer loyalty, and therefore, it is important to emphasize that we will continue to invest in all of the products. We will move forward together with the expertise, knowledge and resources necessary to deliver even higher levels of productivity to our customers."
The merger has been funded by Battery Ventures (Boston, USA) who have been investing for more than 25 years in technology-driven companies and work hard with management to build their presence into global market leaders.
Peter Mate of Planit Canada says he believes the merger further fuels Planit’s size and demographic.
“Vero is particularly strong in Asian markets. Investors backing Vero have a good sense of the technology industry, which should mean higher funding for growth and R&D.
"The merger also increases Planit’s ability to leverage their development resources over multiple CAD/CAM/CAE products,” Mate says and adds, “As we’ve already seen, this allows Planit to invest heavily in developing ground-breaking technologies and then making these available to numerous manufacturing software brands within the Planit family. I think we’ll see an even more aggressive approach in the development.”
