RAND Worldwide To Acquire CADVisions

MISSISSAUGA, ON, Jan. 31 /PRNewswire-FirstCall/ - RAND A Technology Corporation ("RAND Worldwide(TM)" or the "Company"), , a global leader in providing technology solutions to organizations with engineering design and information technology requirements, announced that it has entered into a Letter of Intent to acquire Dallas, Texas based CADVisions, Inc. The purchase price, payable by RAND, will be made in cash, and the transaction is expected to close on or about April 1, 2007.

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.

Review Article Be the first to review this article
Open Mind Solutions

Jeff RoweJeff's MCAD Blogging
by Jeff Rowe
PTC Strengthens IoT Position By Acquiring Axeda
DVR-AutoCAD Civil 3D/Microstation Drafter for Shannon & Wilson, Inc at Denver, CO
Manufacturing Operations Lead for D E Shaw Research at New York City, NY
Head of Engineering Program Management for D E Shaw Research at New York City, NY
Engineering Program Managers for D E Shaw Research at New York City, NY
Upcoming Events
San Diego: Altium Users Group Lunch Meeting at San Diego PCB Inc 9909 Mira Mesa Blvd. Ste 250 San Diego CA - Jul 29, 2014
Shift your SolidWorks 3D-Skills into high gear with MLC CAD Systems Hands On Test Drive - Huntsville at MLC CAD Systems-Huntsville 7027 Old Madison Pike NW Huntsville AL - Jul 29, 2014
Combine YourShift your SolidWorks 3D-Skills into high gear with MLC CAD Systems Hands On Test Drive - Houston at MLC CAD Systems-Houston 10777 Northwest Freeway, Suite 175 Houston TX - Jul 30, 2014
Grow Your Business with SolidWorks Solutions and MLC CAD Systems - Birmingham at MLC CAD Systems-Birmingham One Perimeter Park South Birmingham AL - Jul 30, 2014

Click here for Internet Business Systems © 2014 Internet Business Systems, Inc.
595 Millich Dr., Suite 210, Campbell, CA 95008
+1 (408) 850-9202 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and EngineeringEDACafe - Electronic Design AutomationGISCafe - Geographical Information ServicesTechJobsCafe - Technical Jobs and ResumesShareCG  - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise