Sandvik to acquire CGTech, maker of Vericut

The product offering includes Vericut, a machining simulation and optimisation software which is CAM, machine tool manufacturer and cutting tool neutral and works stand alone or in conjunction with all major CAM suppliers.

The company will be reported in Sandvik Coromant, a division within Sandvik Machining Solutions.

“This is in line with our strategic focus to grow organically and through acquisitions in the digital manufacturing space, with special focus on software solutions close to machining,” said Stefan Widing, president and CEO of Sandvik.

The combined machining expertise of Sandvik Coromant and CGTech will enhance the group’s capabilities in machining intelligence, strengthen the software offering and facilitate an improved presence in key areas of the customer value chain.

“It’s exciting to say that we are able to expand our capabilities with CGTech. This will not only strengthen our leading market position in all parts of the world but will as well enable us to take a big step forward in offering full machining solutions to our customers, which will reduce waste significantly in their broader value chain,“ said Nadine Crauwels, president of Sandvik Machining Solutions.

CGTech is headquartered in California, USA, and has about 180 employees.

The transaction is expected to close during the last quarter of 2020 and is subject to customary regulatory approvals.

Sandvik www.home.sandvik

CGTech www.cgtech.com