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Saturday, Sep 23, 2023

Manufacturing Software Maker in Merger Deal

Gibbs System Inc. becomes part of a new U.S. subsidiary of a manufacturing software developer following its merger with Cimatron Limited. The merger with Moorpark-based Gibbs strengthens Cimatron’s market position by providing more computer-assisted-design and computer-assisted-manufacturing software for the entire manufacturing industry. The combined company’s annual revenues are expected to exceed $40 million. Gibbs was a privately-held company whose founder Bill Gibbs received $5 million and 1.5 million of newly issued Cimatron shares. When the deal closes, Gibbs becomes president and CEO of the new subsidiary and continue to manages the GibbsCAM product line. He will also be nominated to serves as vice chairman of the Cimatron Board of Directors. The merger opens new opportunities to sell GibbsCAM software through the Cimatron distributiin network in key industrial markets, Gibbs said.

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