Auxer Industries Inc. announces the acquisition of Gable CAD Systems U.K.
Gable is the first of several acquisitions to be completed in the next few months under the Auxer UK group.
Gable's CAD system has long been an established and respected name in the engineer communities within the United Kingdom and Europe. Gable's CAD systems are recognized leaders in 3D design. Gable's advanced 3D technology and ease of use features are considered to be superior to the current products offered by Auto desk (CAD) and Bentley Systems (formerly Intergraph), the competitors currently dominating the United States CAD market. Gable is completing the development on their new version for Windows NT scheduled to be released this summer. Upon this release, Auxer UK Ltd. intends to penetrate the U.S. market, a several hundred million-dollar industry, in the fall of 1997. Prior to entering the Windows NT development phase, Gable maintained U.K. based revenue levels of approximately $5 million. The company expects to maintain a profitable status with quarterly revenue projections of approximately $120,000 through its ongoing maintenance contracts during the completion of the Windows NT version. Over the next 18 months, Auxer plans to surpass Gable's old annual sales levels of $5 million through it introduction into the international and U.S. markets.
Auxer Industries is developing a software group through the acquisition of several UK based technologies with the intent on bringing these established companies and high quality products to the United States market. Auxer's software group will evolve into a spectrum of integrated management applications geared toward addressing the mid to large size company needs. This level of integration has traditionally only been customized for the largest size corporations and has never been available to the mid to large company segment of the market which has long been ignored.
Upon completing negotiations scheduled next week, Auxer intends to announced the foundation of an experienced management team for this software group.
CONTACT: Ron Shaver, 201/890-1331