Align Technology has signed a definitive agreement to acquire Exocad Global Holdings for 376 million euros (approximately $417 million U.S.) in cash.
Exocad specializes in CAD/CAM software to enhance workflow in dental labs and dental practices in more than 150 countries.
The acquisition would strengthen Align Technology's digital platform for diagnostic, restorative, implant, and orthodontic markets by adding Exocad's presence in the restorative dentistry, implantology, guided surgery, and smile design segments for digital dentistry with approximately 200 partners and more than 35,000 licenses worldwide.
The acquisition is expected to close during the second quarter this year. Exocad will continue to operate as it does today, with co-founders Tillmann Steinbrecher and Maik Gerth and their employees expected to remain with the company and report to John Morici, Align Technology's senior vice president and chief financial officer.
