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Birmingham tech company Delcam set to be bought by US firm Autodesk for 拢172 million

Small Heath-based firm is said to have reached an agreement  with the California outfit that will enable Autodesk Development to acquire Delcam’s entire issued share capital at £20.75 per share

Small Heath-based Delcam

Birmingham software developer Delcam looks set to be snapped up by US counterpart Autodesk Development in a £172 million deal.

The Small Heath-based firm is said to have reached an agreement with the California outfit that will enable Autodesk Development to acquire Delcam’s entire issued share capital at £20.75 per share.

The deal was announced to the London Stock Exchange.

Delcam, which has enjoyed several years of substantial growth, produces advanced software for a variety of industries, including aerospace, automotive and medical sectors.

Its American rival specialises in producing 3D design, engineering and entertainment software and has been involved in producing special effects for the American film industry, contributing to 17 Oscar winning productions.

The Stock Exchange statement Delcam directors “had considered the terms of the offer to be fair and reasonable” and confirmed they intend to recommend that it is accepted to a general meeting of shareholders.

Clive Martell, Delcam chief executive, added: “Delcam said: “I am very excited by the opportunities from combining Delcam with Autodesk to create a compelling platform from which to service both companies’ manufacturing clients.

“The offer is at a level which recognises the potential of Delcam and provides an attractive opportunity for Delcam shareholders to realise value for their current holdings in cash, while at the same time opening up new opportunities for our staff and partners operating within the wider platform of the Autodesk Group.”