DP Technology Acquires BinarySpaces Software Technology16 Sep, 2008
Both companies plan to stay focused on research and development.
DP Technology, ESPRIT CAM system provider, announced the cash acquisition of the virtual machining software company BinarySpaces Software Technology.
"This acquisition provides DP Technology with direct access to simulation technology that will allow us to further develop our OEM partnerships with machine tool builders around the world," Chuck Mathews, vice-president of DP Technology, said. "We are also excited about the opportunity to offer our ESPRIT end-users a stand-alone simulation product, a tool that is increasingly important for today's complex multiaxis and mill-turn machine tools."
Both companies will continue to operate independently, and BinarySpaces will maintain its current headquarters in Berlin, where all existing staff will remain. The most significant, immediate result to be gained from this acquisition are the technological enhancements derived from a commitment by BinarySpaces to double its investment in research and development over the next 12 months, the company states.