{"id":430848,"date":"2021-02-08T12:26:01","date_gmt":"2021-02-08T17:26:01","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=430848"},"modified":"2021-02-08T12:26:01","modified_gmt":"2021-02-08T17:26:01","slug":"lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/","title":{"rendered":"Lectra enters into a Memorandum of Understanding to acquire Gerber Technology"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">By uniting, the two companies would become the ultimate Industry 4.0 for their customers.<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">PARIS<\/span>, Feb.\u00a08, 2021 \/PRNewswire\/ &#8212;\u00a0<b><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3061195-1&amp;h=3045788826&amp;u=https%3A%2F%2Fwww.lectra.com%2F&amp;a=Lectra\" rel=\"nofollow noopener noreferrer\">Lectra<\/a><\/b><b> announces its plan to acquire the entire capital and voting rights of US-based <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3061195-1&amp;h=4143688397&amp;u=https%3A%2F%2Fwww.gerbertechnology.com%2F&amp;a=Gerber+Technology\" rel=\"nofollow noopener noreferrer\">Gerber Technology<\/a>. A key Industry 4.0 player in the fashion, automotive and furniture industries, Lectra designs smart industrial solutions \u2013 software, equipment, data and services \u2013 that help brands, manufacturers and retailers develop, produce and market their products.<\/b><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/829310\/Lectra_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/829310\/Lectra_Logo.jpg\" title=\"(PRNewsfoto\/Lectra)\" alt=\"(PRNewsfoto\/Lectra)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>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. <\/p>\n<p>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, digitalize and optimize their operations.<\/p>\n<p>For over 50 years, Gerber Technology 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. <\/p>\n<p>The strategic combination of Gerber Technology 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. <\/p>\n<p>Consolidating the two companies&#8217; 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.<\/p>\n<p>\n        <i>&#8220;It has been an honor to lead the transformation of Gerber Technology and create an efficient, comprehensive platform that enables our customers&#8217; digital transformation initiatives. Gerber Technology 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,&#8221;<\/i> says <span class=\"xn-person\">Mohit Uberoi<\/span>, Chief Executive Officer, <span class=\"xn-person\">Gerber Technology<\/span>. <\/p>\n<p>The combined company&#8217;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 Technology and Lectra&#8217;s sales and support teams. <\/p>\n<p>Integrating the technology of the two companies will endow them with the resources to anticipate and address rapidly changing market conditions. <\/p>\n<p>\n        <i>&#8220;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,&#8221;<\/i> states <span class=\"xn-person\">Daniel Harari<\/span>, Chairman and Chief Executive Officer, Lectra. <i>&#8220;We&#8217;re delighted to welcome Gerber Technology&#8217;s group of 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.&#8221;<\/i><\/p>\n<p>\n        <b>Key transaction terms <br \/><\/b>Under the proposed acquisition, Lectra would acquire all outstanding shares of Gerber Technology on a cash-free debt-free basis for an upfront payment of <span class=\"xn-money\">175 million euros<\/span> \u2013 through a combination of cash and debt \u2013 plus 5 million newly issued Lectra shares to AIPCF VI LG Funding, LP (&#8220;AIPCF VI LG&#8221;), an affiliate of American Industrial Partners that is Gerber Technology&#8217;s sole shareholder. This would represent a total amount of about <span class=\"xn-money\">300 million euros<\/span> based on Lectra&#8217;s closing share price on <span class=\"xn-chron\">February 5, 2021<\/span>. No contingent consideration is contemplated.<\/p>\n<p>Gerber Technology&#8217;s revenues was <span class=\"xn-money\">165 million euros<\/span> in 2020. <\/p>\n<p>Thanks to the strong value creation deriving from significant synergies, Lectra expects the transaction to be accretive for shareholders from 2022.<\/p>\n<p>Upon closing, <span class=\"xn-person\">Daniel Harari<\/span> would own c. 14.6% of the Lectra shares and AIPCF VI LG would own c. 13.3%.<\/p>\n<p>Lectra&#8217;s Board of Directors would welcome a director representing AIPCF VI LG.<\/p>\n<p>\n        <span class=\"xn-person\">Daniel Harari<\/span> would continue to be the Chairman and Chief Executive Officer of Lectra. Gerber Technology Chief Executive Officer, <span class=\"xn-person\">Mohit Uberoi<\/span>, would assume special advisor to <span class=\"xn-person\">Daniel Harari<\/span> role until end-2021.<\/p>\n<p>Lectra&#8217;s shareholders would be invited to vote on the issuance of the 5 million new Lectra shares reserved to AIPCF VI LG at a dedicated Extraordinary Shareholders&#8217; Meeting which is currently expected to be held on <span class=\"xn-chron\">April 30, 2021<\/span>. A report containing additional information will be made available to the shareholders prior to the Extraordinary Shareholders&#8217; Meeting.<\/p>\n<p>Lazard is acting as exclusive financial advisor to Lectra, and Latham &amp; Watkins as legal counsel to Lectra. <\/p>\n<p>Goldman Sachs is acting as exclusive financial advisor to AIPCF VI LG, and Ropes &amp; Gray LLP, Baker Botts LLP and Gide Loyrette Nouel A.A.R.P.I. as legal counsel to AIPCF VI LG. <\/p>\n<p>2020 results, update on the 2020-2022 strategic roadmap and guidance for the coming years will be disclosed on <span class=\"xn-chron\">February 10, 2021<\/span>.<\/p>\n<p>Lectra management will discuss the transaction, provide forward-looking guidance for the combined company upon closing of the transaction and answer questions from the financial community during the <span class=\"xn-chron\">February 11, 2021<\/span> webcast Analyst Conference meeting in French starting at <span class=\"xn-chron\">8:30 am (CET<\/span> &#8211; <span class=\"xn-location\">Paris<\/span>). <\/p>\n<p>\n        <b>About Lectra<br \/><\/b>For companies that breathe life into our wardrobes, car interiors, furniture and more, Lectra is crafting the premium technologies that facilitate the digital transformation of their industry. Lectra&#8217;s offer empowers brands, manufacturers and retailers from design to production, providing them with the market respect and peace of mind they deserve. Founded in 1973, today Lectra has 34 subsidiaries across the globe, serving customers in over 100 countries. With close to 1,800 employees, Lectra reported revenues of <span class=\"xn-money\">280 million euros<\/span> in 2019. Lectra is listed on Euronext (LSS).<\/p>\n<p>For more information, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3061195-1&amp;h=1445381953&amp;u=http%3A%2F%2Fwww.lectra.com%2F&amp;a=www.lectra.com\" rel=\"nofollow noopener noreferrer\">www.lectra.com<\/a>.<\/p>\n<p>\n        <b>Follow Lectra on social networks:<\/b>\n      <\/p>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3061195-1&amp;h=1602107863&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Flectra&amp;a=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Flectra\" rel=\"nofollow noopener noreferrer\">https:\/\/www.linkedin.com\/company\/lectra<\/a>\u00a0\u00a0\u00a0 <br \/><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3061195-1&amp;h=1921903724&amp;u=https%3A%2F%2Fwww.youtube.com%2FLectra&amp;a=https%3A%2F%2Fwww.youtube.com%2FLectra\" rel=\"nofollow noopener noreferrer\">https:\/\/www.youtube.com\/Lectra<\/a> \u00a0\u00a0<br \/><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3061195-1&amp;h=1608500154&amp;u=https%3A%2F%2Fwww.facebook.com%2FLectraOfficial%2F&amp;a=https%3A%2F%2Fwww.facebook.com%2FLectraOfficial%2F\" rel=\"nofollow noopener noreferrer\">https:\/\/www.facebook.com\/LectraOfficial\/<\/a><\/p>\n<p>\n        <b>Media contact:<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbtb0 prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Lectra &#8211; Headquarters<\/b>\u00a0<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adeline Fogel\u00a0<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Public Relations Manager<\/b>\u00a0<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>t:\u00a0<\/b>+33 (0)1 53 64 42 37\u00a0<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>e:\u00a0<\/b><br \/>\n                  <a target=\"_blank\" href=\"mailto:a.fogel@lectra.com\" class=\"prnews_a\" rel=\"nofollow noopener noreferrer\">a.fogel@lectra.com<\/a><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CL73182&amp;sd=2021-02-08\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology-301224084.html\">http:\/\/www.prnewswire.com\/news-releases\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology-301224084.html<\/a><\/p>\n<p>SOURCE  Lectra<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CL73182&amp;Transmission_Id=202102081222PR_NEWS_USPR_____CL73182&amp;DateId=20210208\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By uniting, the two companies would become the ultimate Industry 4.0 for their customers. PR Newswire PARIS, Feb.\u00a08, 2021 \/PRNewswire\/ &#8212;\u00a0Lectra announces its plan to acquire the entire 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 \u2013 software, equipment, data and services \u2013 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Lectra enters into a Memorandum of Understanding to acquire Gerber Technology&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-430848","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lectra enters into a Memorandum of Understanding to acquire Gerber Technology - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lectra enters into a Memorandum of Understanding to acquire Gerber Technology - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"By uniting, the two companies would become the ultimate Industry 4.0 for their customers. PR Newswire PARIS, Feb.\u00a08, 2021 \/PRNewswire\/ &#8212;\u00a0Lectra announces its plan to acquire the entire 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 \u2013 software, equipment, data and services \u2013 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 &hellip; Continue reading &quot;Lectra enters into a Memorandum of Understanding to acquire Gerber Technology&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-08T17:26:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/829310\/Lectra_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Lectra enters into a Memorandum of Understanding to acquire Gerber Technology\",\"datePublished\":\"2021-02-08T17:26:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\\\/\"},\"wordCount\":1044,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/829310\\\/Lectra_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\\\/\",\"name\":\"Lectra enters into a Memorandum of Understanding to acquire Gerber Technology - 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PR Newswire PARIS, Feb.\u00a08, 2021 \/PRNewswire\/ &#8212;\u00a0Lectra announces its plan to acquire the entire 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 \u2013 software, equipment, data and services \u2013 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 &hellip; Continue reading \"Lectra enters into a Memorandum of Understanding to acquire Gerber Technology\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/","og_site_name":"Market Newsdesk","article_published_time":"2021-02-08T17:26:01+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/829310\/Lectra_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Lectra enters into a Memorandum of Understanding to acquire Gerber Technology","datePublished":"2021-02-08T17:26:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/"},"wordCount":1044,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/829310\/Lectra_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/lectra-enters-into-a-memorandum-of-understanding-to-acquire-gerber-technology\/","name":"Lectra enters into a Memorandum of Understanding to acquire Gerber Technology - 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