Aveva Group has agreed to acquire Oregon-based software firm FabTrol in a deal worth $6.5m (£4.2m), it announced yesterday.
FabTrol, which is currently owned by Dowco Group, specialises in the provision of management software for the steel fabrication industry. Aveva views the acquisition as a way of further integrating this technology into its existing Bocad structural steel detailing software, expanding its portfolio in the area and allowing it to provide services for every stage of the steel fabrication chain. In addition, Aveva will benefit from FabTrol’s 1400 strong global customer base and further access to the North American Market.
Richard Longdon, chief executive of Aveva, commented: “We are delighted to further strengthen our product portfolio. In 2012, Aveva acquired the industry’s most technically advanced steel detailing solution, Bocad. FabTrol is an obvious extension to our portfolio, positioning Aveva to offer an end-to-end solution for steel design, detailing and fabrication. This latest acquisition will enable us to significantly grow our footprint in this important market.”