M&A Vero acquires Surfcam tools from Surfware
The deal marks the company’s second takeover in as many months.
CAM software suppler Vero has announced its purchase of the Surfcam assets from Surfware, a US-based supplier of the software suite.
No financial details of the deal were released, but Vero said the assets would be used to form a US subsidiary called Surfcam Inc. to manage the product. It added that Surfware Inc. will be renamed TrueMill Inc. for a software tool the sellers have retained.
This was Vero’s second takeover of a software company in as many months: Earlier this year it purchased French-based supplier Sescoi International. (Read here.)
Vero CEO Richard Smith explained the deals: “Following our recent European acquisition of Sescoi, this US acquisition is further evidence of our growing influence on the global manufacturing market. We fully recognise the importance of product branding and it is important to emphasise that we will continue to invest in Surfcam through our new subsidiary.”