PR Newswire | Sep 30, 2021 03:32AM EDT

Inc., creators of Mastercam

09/30 02:31 CDT

Sandvik completes the acquisition of leading CAM software company CNC Software Inc., creators of Mastercam SANDVIKEN, Sweden, Sept. 30, 2021

SANDVIKEN, Sweden, Sept. 30, 2021 /PRNewswire/ -- 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.

Stockholm, September 30, 2021Sandvik AB

For further information, contact Louise Tjeder, Vice President Investor Relations, phone: +46 70 782 6374 or Johannes Hellstrm, Press and Media Relations Manager, phone: +46 70 721 1008.

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SOURCE Sandvik