Sandvik to acquire ICAM Technologies
- November 26, 2021
Sandvik Coromant has signed an agreement to acquire Canadian company ICAM Technologies Corp., a developer of software that translates CAM data into optimized coding for guiding CNC machining operations.
Montréal-based ICAM sells to major aerospace and defence, general engineering, and automotive companies. The company will be reported in Sandvik Coromant, a division within Sandvik Manufacturing and Machining Solutions.
ICAM’s software combines post-processing, machine simulation, and tool-path optimization into solutions that reduce programming and part machining time, and optimize customer workflows by enabling users to go from their CAM system to verified and optimized coding (G-code) in a single one step. ICAM’s offering is complementary with the verification and optimization technology of CGTech, a global leader in software for numerical control (NC/CNC) simulation, verification and optimization, which is also owned by Sandvik and reports into Sandvik Coromant.
"I am really happy to welcome ICAM to Sandvik Coromant and I look forward to us working together and strengthening our offer to our customers,” said Sandvik Coromant president Helen Blomqvist. “ICAM's ability to deliver code reliability across all major CAD/CAM systems is well-aligned with our goal to serve all our customers in the best way possible, with a CAD/CAM-neutral portfolio.”
ICAM was founded in 1971 and has 27 employees. The transaction is expected to close during the fourth quarter of 2021 and is subject to customary closing conditions.
Read the full announcement.