Electronics design software company, Altium (ASX:ALU), has signed a definitive purchase agreement to acquire electronic parts data and specialised inventory search company, Octopart.
Octopart will be the basis for Altium’s next generation smart content creation and delivery platform, where part information, design data and supply chain intelligence will come together to accelerate and inform the design process for engineers.
The acquisition of Octopart is expected to close in late August, subject to customary closing conditions and after Altium has published its final audited results for fiscal 2015. Altium expects to retain all 15 of Octopart’s New York-based employees.
The combined transactions are expected to be accretive to Altium’s earnings per share (before amortisation) for the fiscal year ending June 30, 2016.
Octopart co-founder and CEO, Sam Wurzel, claimed everyone involved in the product development lifecycle can benefit from the bringing together of Altium’s content and design tool expertise with Octopart’s data and search capabilities.
“We share Altium’s vision for the need to improve how electronic part information is captured and sourced in order to help engineers design with greater confidence.
“We are excited to pursue the opportunity to deliver smart content and actionable supply chain intelligence to makers and design engineers as they develop the next generation of connected devices,” he said.
Altium CEO, Aram Mirkazemi, added the Octopart acquisition will allow Altium to make its efforts in content creation and delivery to be sustainable.
In addition, Altium has completed the acquisition of Swiss Cloud-based electronic component management company, Ciiva. The acquisition of Ciiva has closed and all of Ciiva’s 11 engineers have joined Altium.
Mirkazemi mentioned the acquisitions of Octopart and Ciiva represent a significant step in the evolution of the company’s content strategy.
“Tightly integrating CAD models and parts supply information will bring a state change to the way in which parts selection and component management are performed during and after the design process is completed,” he added.