Osaka, Japan - December 3, 2003 - Kubotek Corporation, a developer of integrated design, machining and measurement software and hardware solutions, announced today that it has acquired the assets of CADKEY Corporation of Marlborough, Massachusetts in the United States, from the auction held under the Federal Bankruptcy Law, Chapter 11. The purpose of the acquisition is to enhance the company's long-lasting Creation Engineering business, and to establish a stronger base for expanding its worldwide activities.
Kubotek Corp. plans to develop a new multi-tier product line, code named CREATOR, which will be built on existing and established CADKEY and Kubotek's ImageModeler product lines, with enhanced functions based on CADKEY's "Pure Geometry" concept with optional integrated NC control functions.
Under the headquarters' overall control, Kubotek USA, Inc. (a newly founded wholly owned subsidiary of Kubotek Corporation) will conduct the Creation Engineering business in the USA and European areas, and will continue software development. Kubotek Corporation will continue to expand the business in Japan and Asian areas, and will continue the development of the basic software for Creation Engineering and hardware, such as its RPT (Real/Rapid Prototyping Toolset).
Mr. Naotake Kakishita, Director of Kubotek Corporation in Osaka , has been appointed the President of Kubotek USA, Inc. and will oversee its operations. Kubotek USA will begin a ctivity under a new organization on January 1, 2004 , after a preparation and adjustment period starting December 4 this year. Meanwhile, the company will provide advantageous programs for VARs and AUC (Annual Update Contract) holders to assure a smooth and secured transition.
Dr. Tetsuo Kubo, President and CEO of Kubotek Corporation, states, "This strategic acquisition and the formation of a United States subsidiary establishes a firm foundation for expanding the worldwide sales and marketing of our long- lasting Creation Engineering business. Our plans with a new line of products include the development of competitive modeling solutions, strategic sales and marketing efforts particularly in vital global regions, increased customer-driven enhancements, and re- establishment of the global distribution channel."
CADKEY ® was the first truly 3-Dimensional MCAD software developed for personal computers. CADKEY Workshop, CADKEY Corporation's flagship product, is a freeform surface and solid modeling system. It has been used worldwide by design engineers and manufacturing professionals since 1984 in the design of tooling, complex machinery, fixtures, molds, dies, and products such as automobiles, sports equipment and appliances. "