UL Solutions, a Northrook, IL-based company focused on applied safety science, acquired Cimteq, a UK-based provider of design support and manufacturing software.
The amount of the deal was not disclosed.
The acquisition of Cimteq strengthens UL Solutions’ software capabilities to better serve small and large wire and cable customers across the product life cycle. Powered by state-of-the-art technology, Cimteq’s enterprise-level software enables manufacturers across the globe to be more efficient through improved productivity and streamlining of product development and manufacturing processes. Cimteq’s technology also helps simplify the complex management of cable design data, from the initial concept to delivering a full bill-of-materials directly to enterprise resource planning systems. With Cimteq software, UL Solutions is now able to provide wire and cable manufacturers tools to effectively plan, manage and control every aspect of the development and manufacturing process by utilizing the latest industrial Internet of Things (IoT) technology to optimize cable manufacturing operations.
Cimteq was co-founded in 1998 by software industry veterans Ali and Amanda Shehab and is headquartered in Wrexham, Wales, approximately 35 miles south of Liverpool in the United Kingdom. In 2018, Cimteq received an equity investment from listed private equity and infrastructure investment manager, Foresight Group. The company is led by CEO Michael Braddock.
Cimteq provides technology that enables the management of cable design data, from the initial concept to delivering a full bill-of-materials directly to enterprise resource planning systems.
Led by CEO and President Jennifer Scanlon, UL Solutions transforms safety, security and sustainability challenges into opportunities for customers in more than 100 countries. The company delivers testing, inspection and certification services, together with software products and advisory offerings, that support their customers’ product innovation and business growth.
FinSMEs
22/11/2022