Software company sold to US tech firm

Shah Zaki

A Staffordshire software company has been sold to US headquartered company Tech Soft 3D, backed by Battery Ventures.

Theorem Solutions provides a suite of CAD translation and extended reality software solutions, including 3D Visualization and Digital Twin, for the engineering metaverse.

Established in 1991, the firm has a long-standing client base which includes Ford, Land Rover, Airbus, Rolls Royce and BAE Systems. Headquartered in Staffordshire, the firm also has other offices in the US.

Tech Soft 3D is a supplier of engineering software development toolkits that drive over 700 applications installed on hundreds of millions of computers globally.

The acquisition will enhance Tech Soft 3D’s capabilities as a provider of CAD data translation and re-use solutions for both application developers and end-users.

Mark Stowe, CEO of Theorem said, “We share the vision with Tech Soft 3D on how to extend the value of 3D data for manufacturing enterprises. We are extremely excited about what we can achieve together.”

M&A advisory firm, Clairfield collaborated closely with Theorem to prepare the business for sale and to maximise shareholder value.

Stowe added: “The Clairfield team provided invaluable advice and supported us at every stage of the sale process. Their deep understanding of the software sector helped us achieve a fantastic result.”

The Clairfield team was led by partner Shah Zaki and associate director Nick Wall.

Freeths LLP provided legal advice to the Theorems shareholders.

Ateeq Ahmed, director of the Corporate team at Freeths, said: “We are very proud of our relationship with Theorem, which has spanned nearly 15 years. As always, it was a pleasure working with Mark and the rest of the Theorem team to deliver such an important transaction. Throughout the deal, the parties’ collaborative approach ensured that any complexities were resolved quickly and effectively, all of which bodes well for the future partnership between Theorem and Techsoft.”