Sandvik has acquired the assets of FASTech, a U.S.-based reseller of Computer Aided Manufacturing (CAM) solutions in the Mastercam network.

Sandvik said the acquisition strengthens its position in the CAM market and further builds on its capabilities to serve customers and expand the customer base. FASTech will be a part of business unit Mastercam and will be reported within business area Sandvik Manufacturing and Machining Solutions.

"This acquisition supports our strategic direction to grow in the digital manufacturing space, strengthens our regional presence, and enhances our ability to help our customers," says Stefan Widing, president and CEO of Sandvik.

FASTech, founded in 1988, is headquartered in Findlay, Ohio, and serves manufacturing customers in the Midwest region of the US. The impact on Sandvik's EBITA margin and earnings per share will be limited. The parties have agreed not to disclose the purchase price.

"Integrating FASTech into Mastercam reinforces our commitment to providing manufacturers with unmatched support and industry-leading CAD/CAM solutions," said Russ Bukowski, Interim President of Mastercam. "This acquisition allows us to build even closer relationships with customers in the Midwest region of the United States, ensuring their success in an evolving manufacturing landscape."

In 2021, Sandvik acquired US-based CNC Software Inc., a leading provider of CAD/CAM software solutions for manufacturing industries and the company behind Mastercam, the most widely used CAM brand in the industry with an installed base of -- at the time -- around 270,000 licenses/users,as well as a strong market reseller network and well-established partnerships with leading machine makers and tooling companies.