French company Lectra, which specialises in the production of premium software and technology solutions for companies in the fashion, furniture and automotive sectors, has signed a memorandum of understanding to acquire Gerber Technology, an American group with €165 million in sales in 2020, in a €300 million deal.
The acquisition, if and when implemented, would allow Lectra to complement its market position and continue to improve its offering based on Industry 4.0 technology that enables its customers to increase the productivity and profitability of their operations.
The merger of the two companies would occur at an opportune time for both companies and their customers. The current uncertain economic climate and unprecedented challenges faced by the fashion, automotive, and furniture industries due to the Covid-19 pandemic make it more important than ever for companies to transform, digitize, and optimize their operations.
Gerber Technology and Lectra: a long history of innovation
For over 50 years, Gerber Technology has used its technologies and deep industry expertise to provide integrated software and automated hardware solutions to companies around the world.
“It has been an honor to lead Gerber Technology's transformation and create an efficient and comprehensive platform that enables our customers' digital transformation initiatives. Gerber Technology and Lectra share a long history of innovation and customer focus, and together they will create an even stronger company capable of delivering best-in-class technology solutions globally,“ said Mohit Uberoi, CEO of Gerber Technology.
The strategic combination of Gerber Technology and Lectra will create an advanced technology partnership capable of rapidly meeting changing customer needs and delivering even more value through seamlessly integrated solutions.
The combined company's global reach will also increase its ability to serve customers around the world through increased resources and the combined strength of Gerber Technology and Lectra's sales and support teams.
“Today is a historic day for our companies that will bring tremendous opportunities for future growth. We will have investments in innovation and technological capabilities that will be of great benefit to the industry. They will allow us to create long-term value for our customers and our shareholders,“ concluded Daniel Harari, President and CEO of Lectra. “We are delighted to welcome Gerber Technology's talented group of professionals to the Lectra team. Bringing the two teams together will showcase the strength of our fantastic employees. Together we will be able to grow and expand our services and help customers accelerate their digital transformation.“