Battery Ventures Acquires SigmaTEK

Battery Ventures (Boston, MA), a global technology-focused investment firm, acquired software company SigmaTEK Systems, LLC (Cincinnati, OH), the maker of SigmaNEST™ nesting software with advanced CAD/CAM functionality that helps professional fabrication and manufacturing companies operate more efficiently on the shop floor. Specific terms of the transaction were not disclosed. SigmaTEK will continue to focus on growing their business in the sheet metal market and plans to use their new resources to invest in product development, customer service, and sales and marketing. In addition, in partnership with Battery, they intend to pursue acquisitions to extend their industry reach and expand their global footprint. Though a slight majority of their customers are in the U.S., SigmaTEK has offices in 19 countries around the world.

The company also named a new CEO, veteran technology industry executive Robbie Payne, who was most recently the senior vice president of operations at education-tech company IO Education in Atlanta, GA. He previously held senior roles at Horizon Software International. “I am extremely excited to join SigmaTEK and to partner with Battery, a firm with extensive experience in software businesses globally as well as specific experience in the CAD/CAM sector,” he said. “SigmaTEK is a highly regarded player in this market, and I look forward to leveraging the company’s excellent products and people to continue to grow the business.”

“We have been following SigmaTEK for several years and have always been impressed with the strength of their business and brand,” noted Morad Elhafed, a Battery general partner. “This investment is a further validation of their strength in their market and the success that founder Ben TerreBlanche has had in scaling the company to date.”

www.sigmanest.com