RALEIGH, NC — KPIT a fast growing product engineering and IT consulting partner to automotive, transportation,manufacturing, energy and utilities companies, has acquired Raleigh-based product lifecycle management (PLM) specialist I-Cubed.
Reports say the deal was for up to $24 million.
I-Cubed is known for its capabilities in PLM software & consulting, supply chain analytics, and its expertise in managing the complexities of product data. Using the combined strengths, KPIT will create best-in-class practices to deliver extended PLM to its global customers.
I-Cubed will continue under the leadership of Donald Thompson, the current CEO and president of I-Cubed.
Sachin Tikekar, president, strategic partnerships, KPIT said, “We are excited to have the talented team at I-Cubed on board. Our customers in the automotive and manufacturing industries use PLM extensively and we are also seeing good traction from the energy & utilities industries. With I-Cubed, we enhance our portfolio in both product engineering and IT consulting. KPIT’s global reach combined with I-Cubed’s PLM skills enables us to not only address our customers’ growing demand and expectations for expertise in PLM, but to go beyond in our vision for how PLM and allied areas such as ALM and SLM can transform key business processes.”
Thompson added: “KPIT’s product engineering and IT consulting capabilities create a perfect collaboration environment to expand quickly on a global scale. With KPIT, we will further strengthen our leadership position in data migration, application management support and integration of engineering systems with PLM.”
As a PLM services provider, I-Cubed has strong partnerships with PTC, Siemens, Oracle, Autodesk and Aras, which will be leveraged by KPIT to add additional value for the company’s customers.