Align Technology to acquire dental software company Exocad for €376M in cash

Align Technology Inc. entered an agreement to acquire Exocad Global Holdings GmbH, a privately held dental software company, for about €376 million in cash.

Exocad develops computer-aided design and computer-aided manufacturing, or CAD/CAM, software to manage workflows in dental labs and dental practices.

Align said the acquisition strengthens its digital platform, which includes tools and features for diagnostic, restorative, implant and orthodontic workflows.

Under the deal, Align will pay about €376 million in cash to acquire Darmstadt, Germany-based Exocad, which is majority-owned by Carlyle Europe Technology Partners.

The acquisition is expected to close during the second quarter of 2020.

Exocad broadens Align's platform reach in digital dentistry with close to 200 partners and more than 35,000 licenses installed worldwide, San Jose, Calif.-based Align said in a March 4 news release.

Align and Exocad have been engaged in a collaboration starting in 2017, which included the integration of Align's iTero intraoral scanners and Exocad's chairside CAD software.

Goldman Sachs & Co. LLC is the exclusive financial adviser to Align, while UBS Investment Bank is the exclusive financial adviser to Exocad and funds managed or advised by Carlyle Europe Technology Partners.