Battery Ventures acquires SigmaTEK Systems
- October 30, 2018
Technology investment firm Battery Ventures has acquired SigmaTEK Systems, a manufacturing and fabrication software company.
SigmaTEK manufactures SigmaNEST, a nesting product with CAD/CAM functionality that helps fabrication and manufacturing companies optimize shop floor operations. While most of its customers are in the U.S., the company has offices in 19 countries around the world.
Based in Cincinnati, SigmaTEK will continue to focus on growing its business in the sheet metal market and plans to use its new resources to invest in product development, customer service, and sales and marketing. In addition, in partnership with Battery, SigmaTEK intends to pursue acquisitions to extend its industry reach and expand the company’s global footprint.
SigmaTEK has also named technology industry executive Robbie Payne as its new CEO. Payne was most recently the senior vice president of operations at education-tech company IO Education in Atlanta. Previously he held senior roles at Horizon Software International.
SigmaTEK serves the aerospace and defense, automotive, agriculture, construction, shipbuilding, energy, commercial foodservice markets, among others. Its software uses advanced algorithms to automate the nesting process for laying out and cutting materials (including metal, wood and composite) and helps customers optimize material yield, product quality, machine capabilities and manufacturing processes.