Sandvik completes the acquisition of CAM reseller Cimquest
STOCKHOLM, March 4, 2024 /PRNewswire/ -- Sandvik has completed the previously announced acquisition of Cimquest, a US based reseller of Computer Aided Manufacturing (CAM) solutions and one of the largest resellers in the Mastercam network. Cimquest will be a part of business unit Mastercam and will be reported within business area Sandvik Manufacturing and Machining Solutions.
Cimquest, founded in 1990, is headquartered in Branchburg, New Jersey, and has 55 employees. In 2023, the company had revenues of around 26 MUSD*. The impact on Sandvik's EBITA margin will be limited. Impact on earnings per share will be positive.
*A limited part of Cimquest revenues in 2023 were to Sandvik-owned Mastercam and will not impact Group total external revenues.
Stockholm, March 4, 2024
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
