This acquisition is another significant step in Planit's CAM consolidation strategy and, with market leadership already achieved in wood, stone and sheet metal, the addition of Pathtrace to the group provides a major development in the engineering arena making Planit a dominant player with over 50,000 customers worldwide. The group's leading brands already include alphacam, cabinet vision, cabnetware and radan.
"This is a further reinforcement of our commitment to this market sector," says Planit's Chief Operating Officer, Bryan Pryce. "Pathtrace's principal product line, EdgeCAM is a well respected and highly capable off-line programming system, which complements our existing strengths in the engineering sector. But just as importantly, with offices in the UK, US, China and Japan and a global distribution network - Pathtrace provides important additional routes to market for all our group's CAM products. In addition, Pathtrace are Autodesk's global preferred CAM partner and a certified SolidWorks CAM partner.
"Overall, Pathtrace provides an excellent fit with existing group companies, which will enable us to significantly increase our share of the $1.2 billion global manufacturing software market," comments Pryce.
About Planit Holdings plc
Planit Holdings Plc is listed on the London AIM Stock Market and is the holding company for a range of software businesses in the CAD and CAM markets across the world. Brands include Alphacam, Cabinet Vision, Cabnetware, Fusion and Radan.
The Planit group's strategy is built on providing world class software for design and manufacturing (CAD/CAM) and by providing end to end solutions from manufacture through to the point of sale. Their target markets encompass the engineering, woodworking, stone, cabinet and retailing industries.
The group operates on a global basis with revenues of US$51.1m. Planit's North and South America business operations are managed by Planit Solutions Inc., a wholly owned subsidiary based in the U.S. Further information on the company can be found at www.planitholdingsplc.com.
About Pathtrace plc
Pathtrace plc is the developer of EdgeCAM, an extremely powerful, but easy to use software solution devoted to automating the process of NC programming for metal cutting machine tools. For information about Pathtrace and EdgeCAM visit www.edgecam.com. EdgeCAM is Windows 2000 Professional and XP compliant.
Planit Solutions, Inc. is the developer of AlphaCAM(TM), Cabinet Vision(TM), CabnetWare(TM), Fusion(TM), Pathtrace-EdgeCAM(TM), Planit Enterprise(TM), and Radan(TM) software products, serving the needs of the metalworking, woodworking and sheet metal fabrication industries around the world. Planit Solutions, Inc. has software development, sales and support offices located throughout the U.S. and around the world. For additional information, visit our web site at www.planitsolutions.com.
CONTACT: Stephen Hard of Planit Solutions, Inc., +1-205-556-9199, ext.
3000, or Email Contact