Autodesk Inc. has announced an offer to buy Delcam plc, the Birmingham, England-based CAD-CAM company whose software is used by injection mold manufacturers and other manufacturers.
San Rafael, Calif.-based Autodesk said it plans to acquire Delcam for 20.75 pounds ($33.27) per share, which values the company at 172.5 million pounds ($275.8 million).
Delcam has about 600 employees at more than 30 offices worldwide. In 2012, it reported sales of 47.1 million pounds ($75.3 million).
Autodesk said that it expects the acquisition to close in the first quarter of fiscal 2015, pending regulatory approvals.
Autodesk's wide range of design, engineering and manufacturing software includes Moldflow, the mold-fill simulation software for injection molding.
Carl Bass, Autodesk president and CEO, said: "Today we are taking an important step on our path toward delivering a better manufacturing experience. Together Autodesk and Delcam will help further the development and implementation of technology for digital manufacturing."
Clive Martell, Delcam's CEO, said: "I am very excited by the opportunities from combining Delcam with Autodesk to create a compelling platform from which to service both companies' manufacturing clients. The offer is at a level which recognizes the potential of Delcam and provides an attractive opportunity for shareholders to realize value for their current holdings in cash, while at the same time opening up new opportunities for our staff and partners operating within the wider platform of the Autodesk group."