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This story is from the category Business
Date posted: 11/05/2006 (Press Release) LightWork Design, supplier of rendering solutions for developers of advanced 3D computer graphics software, has been acquired by the Management Team in a Management Buy Out. LightWork Design Limited together with MachineWorks Limited have been acquired by VSI Limited, a new holding company created as the vehicle for the MBO, backed by Matrix Private Equity Partners and HSBC Bank. MachineWorks Limited supplies a simulation and verification toolkit for software and machine tool OEMs. Ashley Broomberg, director at Matrix, said; "We were attracted to this investment because both LightWork Design and MachineWorks are genuine global leaders in their niche markets with a strong intellectual property base. The companies have long-term customer relationships and a strong incumbent management team. The markets in which these businesses operate are poised for growth as hardware developments facilitate the use of 3D design tools and more complex machining tools become more widely used." David Forrester commented; "We are excited about this opportunity and are looking forward to continuing to work with our customers and partners. The companies have strong teams that will remain in place to assist us with driving the businesses forward." See the full Story via external site: www.lightworkdesign.com Most recent stories in this category (Business): 29/01/2013: iRobot files patent application for autonomous all-in-one 3D printing, milling, drilling and finishing robot |
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