Moorpark, California-based Gibbs & Associates, a developer of CAD/CAM software for programming CNC machines, said Monday morning that it has merged with an Israeli Firm, Cimatron Limited. Cimatron said the deal was worth $5M in cash plus 1.5M shares of its common stock, worth roughly $9.2M in total. Cimatron was wholly owned by its founder and CEO, William F. Gibbs. According to Cimatron, Gibbs Sytems has revenues of approximately $12M in 2007. Gibbs will be merged with a newly established US subsidiary of Cimatron. William Gibbs will become President and CEO of the new U.S. subsidiary of the firm.
Top NewsWednesday, January 2, 2008
Gibbs Merges With Israeli Firm