French technology company Lectra is in buying mode this year. After acquiring Gerber Technology and Neteven, Lectra has now announced the acquisition of the Romanian company Gemini CAD Systems.
Founded in 2004, Gemini CAD Systems (Gemini) is a developer of several innovative software solutions, essentially Computer Aided Design (CAD), for small and medium-sized fashion companies.
With its robust networking, Gemini is present in over 60 countries.
“We are thrilled to welcome the talented teams of Gemini who have created impressive software solutions that are relevant to the way fashion companies wish to work today. Gemini’s product portfolio complements Lectra’s software offers, which has already been strengthened by the recent acquisition of Gerber Technology,” commented Daniel Harari, Chairman and CEO, Lectra.
Daniel further said, “Together, we will create synergies between Gemini, Lectra and Gerber Technology’s current offers and bring new, disruptive innovations to the fashion industry.”
This acquisition of Gemini is in line with Lectra’s strategy of developing its presence in the fashion market and enriching its value proposition.
“We are delighted to join Lectra’s family. We are convinced that with Lectra’s strong leadership, its unparalleled expertise in the fashion industry and the strength of its teams, we will be able to boost our customer’s competitiveness and help them accelerate their digital transformation,” stated Traian Luca, CEO and Founder of Gemini.
The transaction concerns the acquisition of 60 per cent of Gemini right now for € 7.6 million. The acquisition of the remaining capital and voting rights will take place in two steps – in September 2024 and September 2026 – as per Lectra.
The total consideration for the acquisition of 100 per cent of Gemini’s capital will depend on Gemini’s revenue growth, and should be comprised between € 13 and € 20 million.