BUCHAREST (Romania), September 13 (SeeNews) - French technology group Lectra said that it has signed an agreement to acquire 60% of Romanian software company Gemini CAD Systems for 7.6 million euro ($9 million).
This acquisition is in line with Lectra’s strategy of developing its presence in the fashion market and enriching its value proposition, Lectra said in a press release on September 6.
The French group plans to acquire the remaining capital and voting rights in two steps, in September 2024 and September 2026. The total consideration for the acquisition of 100% of Gemini’s capital will depend on Gemini’s revenue growth, and should be comprised of between 13 and 20 million euro.
"We are thrilled to welcome the talented teams of Gemini who have created impressive software solutions that are relevant to the way fashion companies wish to work today. Gemini’s product portfolio complements Lectra’s software offers, which has already been strengthened by the recent acquisition of Gerber Technology," Lectra chairman and CEO Daniel Harari said.
The transaction will be completed in a short period of time, PwC Romania and D&B David și Baias said in a press release.
"We are convinced that with Lectra’s strong leadership, its unparalleled expertise in the fashion industry and the strength of its teams, we will be able to boost our customer’s competitiveness and help them accelerate their digital transformation," Gemini CAD CEO and shareholder Traian Luca said.
Established on 1973 in Paris, France, Lectra specialises in CAD software and CAM cutting-room systems for industries using soft material such as leather and textiles. The group is present in 34 countries and reported revenues of 236 million euro in 2020.
In June, Lectra acquired Gerber Technology, a U.S. - based company which develops software and automation solutions for fashion, automotive, furniture and other businesses across the globe.
Gemini CAD Systems company was founded in 2004 in Iasi and produces software solutions for companies active in the fashion industry.