Technology company Lectra has announced the signature of an agreement to acquire the entire capital and voting rights of the Romanian company Gemini CAD Systems. A major global player in the fashion, automotive and furniture markets, Lectra designs industrial intelligence solutions – software, hardware, data and services – for brands, manufacturers and retailers.
Founded in 2004, Gemini CAD Systems (Gemini) has developed several innovative software solutions, essentially Computer Aided Design (CAD), for small and medium-sized fashion companies. Thanks to its network of partners, Gemini is present in over 60 countries.
“We are thrilled to welcome the talented teams of Gemini who have created impressive software solutions that are relevant to the way fashion companies wish to work today. Gemini’s product portfolio complements Lectra’s software offers, which has already been strengthened by the recent acquisition of Gerber Technology. Together, we will create synergies between Gemini, Lectra and Gerber Technology’s current offers and bring new, disruptive innovations to the fashion industry,” Daniel Harari, chairman and CEO, Lectra said in a statement.
The acquisition is in line with Lectra’s strategy of developing its presence in the fashion market and enriching its value proposition.
“We are delighted to join Lectra’s family. We are convinced that with Lectra’s strong leadership, its unparalleled expertise in the fashion industry and the strength of its teams, we will be able to boost our customer’s competitiveness and help them accelerate their digital transformation,” stated Traian Luca, CEO and founder of Gemini.
The transaction concerns the acquisition of 60 per cent of Gemini right now for €7.6 million. The acquisition of the remaining capital and voting rights will take place in two steps, in September 2024 and September 2026. The total consideration for the acquisition of 100 per cent of Gemini’s capital will depend on Gemini’s revenue growth, and should be comprised of between €13 million and €20 million.
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated fee)
