Planit to Sell Retail Business to 20-20 Tech for $38M
 ASHFORD,
UK, Feb 5, 2008 - The leading CAD/CAM software provider Planit has agreed to
the sale of its Fusion retail business to 20-20 Technologies Inc. The
decision for the divestment is in line with Plaint's strategy to focus on
its core activities and to become the global market leader in the provision
of CAD/CAM solutions to manufacturing industry worldwide. The deal is worth
approximately US$38 million (£19 million) excluding related transaction
costs.
Bryan Pryce, CEO Planit Holdings Limited commented: "Planit is already a
very strong player within the CAD/CAM sector of manufacturing industry and
we will continue to grow our brands in markets across the globe. Therefore,
reflecting on this strategy and the commercial sense that the 20-20 deal
represents, I believe we are now extremely well positioned to take full
advantage of the opportunities that our world-class software solutions
present".
The company's Alphacam, Cabinet Vision, Cabnetware, Edgecam, Jobshop and
Radan solutions are best-in-class within their respective markets, providing
customers with products and services to improve the productivity of their
machine tools, shorten design and manufacturing time, optimize material
usage, and deliver high quality goods and services to their customers.
Planit is the world's largest supplier of design and manufacturing
software for the engineering, woodworking and stone-cutting industries, with
more than 85,000 industrial seats installed at thousands of customer sites
around the globe.
About Planit Holdings Limited
Planit serves customers throughout the world with design and
manufacturing software solutions (CAD/CAM) for metalworking, woodworking and
stone-cutting industries. It is the world's largest supplier with more than
85,000 industrial seats installed at thousands of customer sites around the
world.
The company provides its customers with products and services that enable
them to improve the productivity of their machine tools, shorten design and
manufacturing time, optimize material usage and deliver high quality goods
and services to their customers. Leading Planit brands are Alphacam, Cabinet
Vision, Cabnetware, Edgecam, Jobshop and Radan. For additional information
visit www.planit.com
About 20-20 Technologies Inc
20-20 Technologies is the world's leading provider of computer-aided
design, business and manufacturing software solutions tailored for the
interior design and furniture industries. Dealers and retailers use its
desktop and web-based products and solutions for the residential and
commercial markets. 20-20 offers a unique proprietary end to end solution,
integrating the entire breadth of functions in interior design through one
platform. It provides a bridge between data communication from a
point-of-sale to manufacturing and world-leading enterprise resource
planning (ERP) systems, including computer-aided engineering and plant floor
automation software. Operating in 13 countries with more than 500 employees,
20-20 is a publicly traded company (TWT) on the Toronto Stock Exchange (TSX).
For more information, visit
www.2020Technologies.com.
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Oct 1 - Planit CEO Bryan Pryce Gets 2008 Gatwick Deals Award
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Feb 5 - Planit to Sell Retail Business to 20-20 Tech for $38M
Source: Material used in press releases is often supplied by external
sources and used as is.
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