Lectra, the technological partner for companies using fabrics and leather, announces the signing of a share purchase agreement to acquire the entire capital and voting rights of the Italian company Kubix Lab.
Founded at the end of 2015, Kubix Lab has developed a cutting-edge technological offer called Link. This offer enables fashion brands to manage, from end-to-end, all product information deriving notably from multiple IT systems (ERP, PDM, PLM.), within one single application. Users can modify, enrich or add new data, while maintaining data synchronization with all IT systems. In just a few months, Link has convinced over ten high-end Italian brands of its value.
“We were particularly impressed by the relevance of the solution created by Kubix Lab,” underlines Daniel Harari, Chairman and Chief Executive Officer, Lectra. “By capitalizing on their knowledge of best practice, the founders of Kubix Lab knew how to develop an offer perfectly adapted to the expectations of fashion companies. Link enables all players involved in product development, manufacturing and sales to collaborate in real time, in a simple and efficient way, around exactly the same data.”
“We are delighted to join Lectra. We are convinced its leadership, global presence, strong expertise in the fashion industry and the richness of its product portfolio will enable us to develop an integrated offer with high value for all Lectra customers,” states Giampaolo Urbani, Chief Executive Officer and co-founder of Kubix Lab.
The founders of Kubix Lab will be in charge of developing an integrated Lectra – Link offer, which will complement – and reinforce – Lectra’s entire offer.
“Product data is at the heart of Link. We took an approach diametrically opposed to existing solutions on the market and designed an offer which is highly innovative, flexible, evolutionary and easy to use,” explains Pierluigi Beato, R&D director and co-founder of Kubix Lab. “With Lectra, we will take Link to the next level.”
The transaction involves the entire acquisition of Kubix Lab for the maximum amount of €7 million: €3 million paid when the acquisition agreement is signed; €1.3 million and €2.7 million paid respectively in 18 and 36 months’ time, providing objectives are met.
Final completion of the acquisition should take place by January 31, 2018.
These amounts will come from Lectra’s available cash, with no financing from the bank. Kubix Lab will be consolidated into Lectra’s accounts, effective from the signature of the final agreement.
