- Sandvik AB (OTC:SDVKY) has agreed to acquire US-based CNC Software Inc., a CAD/CAM software solutions provider for manufacturing industries and the company behind Mastercam, for undisclosed financial terms.
- Tolland, Connecticut-based CNC Software, founded in 1983, is an independent, family-owned company with 220 employees.
- CNC Software will be reported in the Design & Planning Automation division within Sandvik Manufacturing and Machining Solutions.
- With this acquisition, Sandvik gains a CAM brand in the Mastercam software suite with an installed base of around 270,000 licenses/users.
- CNC Software’s 2020 revenue totaled $60 million with an EBIT margin of 25%-30%.
- The underlying EBITA margin is accretive to Sandvik Manufacturing and Machining Solutions. The impact on earnings per share will initially be slightly negative.
- Sandvik will include transaction costs estimated at SEK 25 million in Q3.
- The deal is expected to close during 4Q21. In conjunction with the closing, Sandvik will make a write-down of overlapping assets representing SEK 30 million.
- Sandvik held cash and cash equivalents of SEK 17.25 billion as of June 30, 2021.
- Price Action: SDVKY shares are trading higher by 2.05% at $25.60 on the last check Wednesday.
American Outdoor Brands, Inc. – Common Stock Q3 EPS $0.13 Misses $0.23 Estimate, Sales $50.90M Miss $59.28M Estimate
American Outdoor Brands, Inc. - Common Stock (NASDAQ:AOUT) reported quarterly earnings of $0.13 per share which missed the analyst consensus estimate of $0.23 by 43.48 percent. This is a 75 percent decrease over earnings
