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Battery Ventures acquires businesses

Investment firm Battery Ventures agreed to acquire the Cimatron and GibbsCAM software businesses from 3D Systems Inc. As part of the acquisition, Cimatron and GibbsCAM will join Battery-backed SigmaTek Systems LLC, a CAD/CAM software provider serving professional fabricators, in a new holding company called Cambrio. Headed by Robbie Payne, current SigmaTek Systems CEO and a veteran tech executive, the new company will leverage Cimatron and GibbsCAM to offer a diverse set of design and machining software solutions, and firmly position itself as a CAD/CAM innovator in the fabrication, toolmaking and production machining industries.

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