Prodways Group successfully completed the acquisition of AvenAo, a specialist in the integration of 3D design applications.
Announced in August 2017 this acquisition will enable Prodways Group to further develop its commercial development. This will also be the opportunity to strengthen its strategy across the entire industrial 3D printing value chain.
What this acquisition will bring to Groupe Gorgé
By acquiring AvenAo, Groupe Gorgé’s offering will now include all steps from project design to parts production.
Furthermore, this transaction plays a key role in the collaboration between Prodways Group and Dassault Systèmes.
Indeed, AvenAo can handle all issues relating to the design function and offers consulting in 3D design and integrating 3D printing solutions. In 2016, AvenAo and its subsidiaries employed 75 people and were profitable. AvenAo will be consolidated within the Systems division and should contribute at least €10 million to Prodways Group’s revenue in 2018.
Employment & revenue target
AvenAo’s acquisition marks a milestone in Prodways’ development. The Group’s new division today comprises 400 employees.
As far as the expected revenue is concerned, the company could reach around €50 million in 2018.
Last, the transaction implies that Sébastien Vercruysse, new significant Prodways Group shareholder, and co-founder of AvenAo, will strengthen Prodways Group’s management team. Sébastien Vercruysse has demonstrated his ability to develop AvenAo and will put his skills to use for the sales development of the Products and Systems divisions and the roll-out of an integrated 4.0 industry offer (software, design and 3D printing) within Prodways Group.
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