Vero Software Plc

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Vero Software is a CADCAM software company headquartered in Stroud, England.

Vero was founded in Northern Italy in October 1988 by Don Babbs and Ezio Galardo when they left Olivetti. In the mid 1990s its VISI-CAD and VISI-CAM products were the first to use the PC implementation of the Parasolid kernel.

The company was incorporated in 1997 under the name Deepcredit Limited, and then renamed as VI Group Plc in 1998 prior to its listing on the London Stock Market.[1] In October 2007 the company was renamed to Vero Software.[2]


The company has four offices in Italy, three in England, one in Japan, one in France, one in Canada and one near Detroit in the USA. VISI-Series now has more than 15,000 users world-wide and over 1,000 machining STRATEGIST users. The products are supported from over 70 outlets in more than 40 countries and have been translated into more than 10 languages. Company sales have grown every year since inception and growth has averaged more than 20% per year over the last five years.

Contents

[edit] Acquisitions and capital funds

  • May 2000 - acquired an Italian software company formerly known as Tecnocam for $349k plus shares.[1]
  • March 2001 - acquired the Electronic Data Interchange, a division of the South Wales based Ubiquity Software Corporation used for the secure transfer of automotive CAD/CAM data for $361k.[1]
  • May 2001 - November 2003 - raised up to Euro4.2million from a Eureka development grant[3] Accordingly the Company recognized $0.68 million due to the Eureka grant and other Italian grant awards as development cost savings in the 2002 accounts.[1]
  • May 2002 - Raised $4.6million from the stock market.[1]
  • July 2002 - took over its US subsidiary for the assumption of $355k in debt and forgiveness of another $259k of debt.[1]

[edit] Investments

  • Investments in property, plant and equipment amounted to $701,000,

$282,000, $149,000 during 2002, 2001 and 2000 respectively.[1]

  • Expenditures on research and development amounted to $1,439,000, $1,260,000

and $1,563,000 during 2002, 2001 and 2000 respectively.[1]

[edit] References

  1. ^ a b c d e f g h i VI Group PLC - 20-F - For 12/31/02. Securities and Excise Commission. Retrieved on 2007-12-22.
  2. ^ Vero - Shaping your world - Confirmation of name change for VI Group Plc
  3. ^ EUREKA | A Europe-wide Network for Market-Oriented Industrial R&D and Innovation
  4. ^ Vero International Software (30 September 2002). "Interim results for the six months to 30 June 2002". Press release. Retrieved on 2007-05-16.
  5. ^ Vero International Software (1 December 2006). "Acquisition of Camtek Ltd.". Press release. Retrieved on 2007-05-16.

[edit] Website

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