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Lectra enters into a MoU to acquire Gerber Technology

08
Feb '21
Pic: Lectra
Pic: Lectra
Lectra has announced its plan to acquire the capital and voting rights of US-based Gerber Technology. A key industry 4.0 player in the fashion, automotive, and furniture industries, Lectra designs smart industrial solutions, software, equipment, data and services, that help brands, manufacturers, and retailers develop, produce, and market their products.

The acquisition, if and when consummated, would allow Lectra to complement its market position and continue to enhance its offerings based on Industry 4.0 technology that will enable its customers to boost the productivity and profitability of their operations. After the French work council of Lectra is consulted and the binding documentation is signed, completion of the acquisition shall remain subject to merger control clearance and other customary conditions and shall be submitted to Lectra shareholders for approval, Lectra said in a media statement.

The proposed combination would occur at an opportune time for both companies and their customers. The current uncertain economic climate and unprecedented challenges that fashion, automotive and furniture companies are facing due to the COVID-19 pandemic make it more important than ever for them to transform, digitalise and optimise their operations. Consolidating the two companies’ research and development capabilities will enable the combined company to accelerate development of Industry 4.0 technologies and help its expanded customer base seize the full potential of these innovations, according to Lectra.

For over 50 years, Gerber has used its proprietary technologies and deep domain expertise to provide integrated software and automated hardware solutions to companies around the world, including over 100 Fortune 500 companies in 134 countries. The strategic combination of Gerber and Lectra will create a premier advanced technology partner, able to quickly meet changing customer needs and deliver even more value through seamlessly integrated solutions. Together, the two companies will have a large installed base of product development software and automated cutting solutions in operation, with a worldwide presence and a long list of prestigious customers, Lectra said.

“It has been an honour to lead the transformation of Gerber and create an efficient, comprehensive platform that enables our customers’ digital transformation initiatives. Gerber and Lectra share a long history of innovation and excellent customer service that, brought together, will create an even stronger company that provides best-in-class technology solutions and services to our customers globally,” Mohit Uberoi, chief executive officer, Gerber said in a Lectra press release.

The combined company’s broader global reach will allow it to boost service capabilities to customers around the world thanks to greater resources and the joint force of Gerber and Lectra’s sales and support teams. Integrating the technology of the two companies will endow them with the resources to anticipate and address rapidly changing market conditions.

“Today is a historic day for our companies that will bring tremendous opportunities for future growth. We will have investments in innovation and technological capabilities that will be highly beneficial to the industry. They will allow us to create long-term value for our customers and our shareholders. We’re delighted to welcome Gerber’s talented professionals to the Lectra team. Unifying the two teams will showcase the strength of our fantastic employees. Together, we will be able to grow and expand the services we provide to our customers and help them accelerate their digital transformation,” Daniel Harari, chairman and chief executive officer, Lectra said.

Fibre2Fashion News Desk (GK)


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