SMT & Inspection | July 02, 2007
VI Group Buys Camtek North America
I Group plc, a supplier of CAD/CAM software to the mould and die sector, has acquired the assets of Camtek North America Inc. for £56,000.
Camtek North America Inc. distributes and supports the products of Camtek Ltd, a software developer VI Group acquired in November 2006. It reported pre-tax profits of £29,000 on revenues of £391,000 in the 12 months to December 2006 from the distribution and support of Camtek's PEPS branded software. PEPS is a suite of specialist engineering software with built-in CAD drawing tools for the design of geometrical models. It is used extensively in a number of production technologies including laser cutting, wire Electrical Discharge Machining (EDM) and Computer Numerically Controlled (CNC) turning and milling machines. Founded in 2004 by Alan Weeks to support the growing North American user base of Camtek's PEPS CAD/CAM applications, CNAI has developed a strong focus on the complex Wire EDM machining market, and has established partnerships with some of North America's largest machine tool suppliers. CNAI has also built an enviable user base which now includes such household names as Harley Davidson, GE Aircraft Engines, Hutchinson Technology, Smith & Wesson, Gillette, Xerox and Trumpf served from its offices in Atlanta, Chicago and Detroit. Don Babbs, Chief Executive of VI, says: “This acquisition boosts our presence in North America adding further distribution on the East Coast and the Mid West, as well as complementing our existing presence in the heart of the automotive sector in Michigan. Coming on the back of our acquisition of Camtek Ltd at the end of 2006, the CNAI acquisition gives us increased distribution in one of the world's major markets as well as close working partnerships with some of the most advanced machine tools companies." Alan Weeks, President of CNAI, comments: “We are very pleased to be a part of a company which shares our strong commitment to customer service. By joining VI Group, we can offer a broader range of products across a much wider number of market sectors."
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