Hybrid Software Group PLC (Euronext: HYSG) announced on 15 March that on 14 March 2022 it acquired the business and assets related to iC3D from Creative Edge Software LLC.
The iC3D software suite generates photorealistic 3D virtual mock-ups on the fly, allowing cartons, labels, flexibles, bottles, shrink sleeves, point of sale displays, and in-store visualization to be accurately rendered for design verification and eCommerce applications. In addition, iC3D offers the industry’s largest library of modeling templates for digital packaging design and prototyping as well as an online viewing platform that allows designers, brands, and print providers to collaborate on new designs with accurate real-time 3D rendering.
Mike Rottenborn, chief executive officer of Hybrid Software Group, comments, “3D and additive manufacturing applications are one of our fastest-growing market segments for printhead drive electronics and software, but visualization of packaging designs in 3D was a gap in our technology portfolio. The acquisition of iC3D strengthens our 3D offering and closes the loop between the design of high-end labels and packaging and industrial print manufacturing. We already have an integration of iC3D in our Packz and Cloudflow software with a substantial installed base of users that have licensed the iC3D option and we look forward to broader integration of iC3D in our Digital Front Ends (DFEs) and other software products.”
Trevor Haworth, chief executive officer of Creative Edge says, “We formed Creative Edge Software in 2013 to develop 3D software that would give packaging and label designers an all-in-one product to replace the many partial rendering solutions in use at the time. Since then, iC3D has become the product of choice for many leading brands. Almost since the start, Hybrid Software became one of our largest value-added resellers by combining iC3D’s fast visualization capabilities with their range of packaging production software products, and a close relationship between the development teams was established. Our acquisition by Hybrid Software Group is the logical step in the co-development of some exciting new products for the packaging market and I look forward to our expansion under the additional resources provided by such a successful group.”
Consideration for the acquisition is US $4.0 million (approximately Rs 30 crore) in cash, which has been paid in full.