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CADKEY ANNOUNCES MERGER AGREEMENT WITH VARIMETRIX, GAINS ACCESS TO HIGH-END MANUFACTURING, ENGINEERING MARKETS

 WINDSOR, Conn., Feb. 23 /PRNewswire/ -- Cadkey, Inc., announced today a merger agreement with Varimetrix Corporation, a Florida-based developer of parametric surface/solid modeling software for high-end computer-aided design (CAD), manufacturing and engineering applications.
 Terms of the contract between the privately held companies were not disclosed, according to Malcolm Davies, Cadkey president and chief executive officer. Varimetrix will remain in Palm Bay, Fla., as a unit of Cadkey, Inc., and Forrest Blair, president of Varimetrix, will become a vice president of Cadkey, Inc.
 "Adding the Varimetrix state-of-the-art software to our extensive product family makes Cadkey the only CAD company to offer solutions that span the complete range of desktop 2-D and 3-D CAD/CAM/CAE capabilities," said Davies. Varimetrix's applications address customers' needs at the high end of the market, where significant growth is expected. Cadkey is already a major player in both the low-end and mid-range sectors of the $8.1 billion CAD/CAM/CAE marketplace, according to industry analysts.
 The two companies share a common philosophy that "software should function in a seamlessly integrated environment," said Davies, "where any change in any design or manufacturing specification can be immediately reflected in all drawings, models, process plans and tool paths. This concurrent engineering strategy is Cadkey's trademark," he said.
 "The advanced functionality of Varimetrix products ensures that our mid-range to high-end customers can manage their growth knowing that Cadkey has solutions that fit their requirements. This product line expansion also gives us pricing flexibility across these segments of the market," stated Davies.
 Cadkey will begin sales and marketing of Varimetrix's intelligent 2-D drafting, 3-D mechanical design, modeling, manufacturing and conversion software immediately. Cadkey will also distribute Varimetrix products through its dealer and distributor network in the Americas and in Europe. The Varimetrix unit will continue to manage product development and new product planning functions.
 "This merger delivers a powerful set of software tools to a broad cross-section of the engineering and manufacturing marketplace," said Blair. "Within one family, Cadkey users and resellers now have at their fingertips variational design, parametrics, constraint management and manufacturing control. These processes," said Blair, "ensure the control of change in engineering designs. The Varimetrix products use state-of-the-art software tools and technologies for modern platforms.
 "Another benefit of our merger is the opportunity to tap the rapidly expanding UNIX market," said Blair. "Workstations running UNIX are the predominant platform of choice for high-end applications."
 "Cadkey's products and Varimetrix's capabilities offer the CAD/CAM/CAE industry the standard platforms and network architecture chosen by users," said Davies. "Our combined strengths will deliver a set of integrated and fully featured software products second to none in the CAD industry."
 Cadkey, Inc., a privately held firm, develops, manufactures, markets and supports productivity-enhancing computer-aided design (CAD), manufacturing and analysis software products worldwide. Its software is one of the most widely used and acclaimed mechanical engineering programs, with more than 100,000 installations in a dozen languages.
 -0- 2/23/93
 /CONTACT: Lou Bodnar of Cadkey, 203-298-6425/


CO: Cadkey, Inc.; Varimetrix Corporation ST: Connecticut, Florida IN: CPR SU: TNM

GK-OS -- NY041 -- 9383 02/23/93 11:46 EST
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Date:Feb 23, 1993
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