Digital modeling software company Geomagic is getting a real-world touch by acquiring two business units of Sensable Technologies, a company whose healthcare work can be found in medical simulations.
Geomagic, a Morrisville, North Carolina company, develops computer-aided design and modeling software. The Sensable acquisition brings to Geomagic Sensable’s 3-D modeling and haptics businesses. Haptics technologies give feedback to a user by the sense of touch. The deal means that Geomagic, once solely a software company, will now have both hardware and software in its portfolio.
“Geomagic specializes in capturing digital data from the real world and real people,” Geomagic CEO Ping Fu said in a statement. “Now we can add the sensation of touch as well; sight and feel are two major human sensibilities that enhance the design experience.”
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No financial terms were disclosed for the transaction between the two privately held companies. But the Sensable employees in the business units acquired by Geomagic will continue to work from Sensable’s Wilmington, Massachusetts location. Sensable had raised more than $11 million in financing from HLM Venture Partners and North Bridge Venture Partners, according to securities filings.
Geomagic was founded in Illinois in 1997, and relocated to North Carolina two years later. The company raised $8 million in 2008 from Franklin Street Partners. Geomagic’s software is used to create digital models in product design and manufacturing in various industries, such as automotive, aerospace and manufacturing. Clients include Harley-Davidson (NYSE:HOG), Ford (NYSE:F) and NASA. The company has also made inroads into medical design and its software has been used in applications such as improving knee replacement designs and assisting in the design and manufacturing of prosthetic limbs.
Geomagic said that the Sensable acquisitions offer synergies; in some cases, Geomagic and Sensable clients are already customers of both companies. But medical training and simulation represent new markets for Geomagic and the deal will bring to the company Sensable’s haptics customers in medical research and manufacturing. Sensable’s haptics technologies have been developed for applications that include virtual reality simulation for minimally invasive surgery training, orthopedic training simulation and haptic cow veterinary training.
In addition to Sensable’s product portfolio, Geomagic has also acquired most of Sensable’s patent portfolio. Sensable’s dental business will remain with the company formerly called Sensable Technologies. Geomagic had already entered the dental field.
