CADVisions, an Authorized Autodesk Service and Support Center, is a leading provider of Autodesk Inc. software and associated training, consulting and support services, which generates approximately USD$5.0 million per year in revenue. With approximately 20 employees based out of offices in Dallas, Texas; Wichita, Kansas; and Tulsa, Oklahoma, CADVisions has more than 750 customers including several Fortune 500 companies.
"Driving growth via acquisitions is a fundamental component of our strategy to build our business," said Frank Baldesarra, President and CEO of RAND Worldwide. "Our acquisition of CADVisions enables us to extend the geographical reach of IMAGINiT, our Autodesk operations, by establishing a significant presence within the rapidly growing Texas, Kansas and Oklahoma markets. CADVisions' extensive experience, as well as its reputation for providing superior service, has allowed it to build and maintain loyal and long-term relationships, with more than 80% of its revenue coming from repeat business with existing customers."
"CADVisions joining IMAGINiT enables us to enhance our local expertise and client relationships," said Roy Burchfield, President of CADVisions. "Of our three locations, the Dallas area has significant opportunity for growth, and now we will be able to leverage the resources, infrastructure and expertise of a well respected global organization to meet the needs of our customers, especially those with offices across the continent and around the world."
This transaction is subject to the customary closing conditions including regulatory approval, due diligence satisfactory to RAND and execution of a definitive purchase agreement.
About CADVisions, Inc.
CADVisions was started in 1985 as one of the first firms to use CAD to produce drawings, by 1992 there was a need for a value added reseller in the Dallas/Ft Worth area. Since then CADVisions has grown into one of the largest and most respected names in the CAD industry with offices in Texas, Oklahoma and Kansas. For more information about CADVisions please visit www.cadvisions.com.
About IMAGINiT Technologies
IMAGINiT Technologies, a unit of RAND Worldwide, is a leading provider of design and engineering solutions to the building, manufacturing, infrastructure and media & entertainment industries. With over 40 offices in North America and Asia-Pacific, IMAGINiT is a leading provider of Autodesk software solutions and the largest North American Autodesk Authorized Training Center (ATC) partner in North America. IMAGINiT delivers knowledge, expertise and design processes to clients through proven technical support, training and consulting services. Our locations are supported by a vast pool of engineering resources that are focused on developing real-life business solutions for our local clients. For more information about IMAGINiT please visit www.rand.com/imaginit.
About RAND Worldwide
RAND Worldwide is one of the world's leading providers of professional services and technology to the engineering community; targeting organizations in the manufacturing, building and infrastructure industries. RAND enables its customers to improve their competitiveness, productivity and profitability by enhancing key aspects of their 3D Design, Data Management and Collaboration capabilities. With more than 20 years of industry experience, RAND delivers knowledge, expertise and design processes to clients through proven technical support, training and consulting services. RAND employs 439 people in 70 global sales and client service centers. For more information about RAND please visit www.rand.com.
This news release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this news release. Actual results could differ materially from those anticipated in these statements, due to risks and uncertainties which affect the Company's business and operations. Reference should be made to the Company's Annual Information Form and other continuous disclosure documents filed from time to time with Canadian securities regulatory authorities, for a detailed description of such risks and uncertainties. RAND Worldwide undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.