CIMdata PLM Industry Summary Online Archive
25 April 2007
Financial News
Renishaw Investment in Delcam Confirmed
At an EGM held on 23rd April, Delcam shareholders voted to accept an investment of around £6.1 million from the metrology company, Renishaw . The investment is through a subscription for 1,524,052 new Ordinary Shares at £4.00 per share, which represents 20% of Delcam's enlarged capital. The net proceeds will be used to fund the expansion of Delcam's business and for further investment in the development, sales and support of the company's range of CADCAM software. Following the investment, Renishaw has been invited to nominate a director to the Board of Delcam.
Renishaw and Delcam have worked together for many years, share common interests in the fields of engineering and metrology, and worldwide have many common customers. It is believed that closer cooperation will enhance the sales of both companies. This will be achieved by initiatives such as the agreement recently entered into by Delcam for the development of software to support the application of Renishaw's new probes.
Speaking about the investment, Ben Taylor, Renishaw's Assistant Chief Executive said, "The Directors of Renishaw are very pleased to further our long-standing relationship with Delcam in this manner and are confident that the new relationship will be extremely fruitful for the progress and continuing development of both companies."
He continued, "We see particular benefit in the development of software that will enhance our new developments in the fields of dental, medical and precision metrology."
Chairman of Delcam plc, Tom Kinsey, added, "The directors of both companies believe that closer cooperation will enhance our respective sales and will provide opportunities for developing software to support a range of exciting new Renishaw products."
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