EuroWire November 2022

Corporate News

UL Solutions acquires Cimteq Limited Applied safety science organisation UL Solutions has announced its acquisition of Cimteq Limited, a design support and manu- facturing software provider for the global wire and cable manufacturing industry based in the UK.

Weifang Zhou, executive vice president and president of testing, inspection and certification, UL Solutions, commented, “Process excellence throughout the research and development cycle is increasingly crucial to safe product deployment, especially as the complexity of design requirements increases. Cimteq will enable UL Solutions to help customers optimise operations while enhancing product safety and compliance.” Cimteq CEO Michael Braddock said, “Cimteq was founded to develop software solutions for the wire and cable industry and help manufacturers achieve their digital transformation ambitions while developing safe and compliant products. “We share UL Solutions’ mission-centric safety culture and are proud to join them to help advance innovations for the wire and cable industry.” Cimteq was co-founded in 1998 by software industry veterans Ali and Amanda Shehab, and is headquartered in Wrexham, Wales, approximately 35 miles south of Liverpool. In 2018, the company received an equity investment from listed private equity and infrastructure investment manager Foresight Group.

The acquisition will strengthen UL Solutions’ software capabilities to better serve small and large wire and cable customers across the product life cycle. Cimteq’s enterprise-level software enables manufacturers to be more efficient through improved productivity and streamlining of product development and manufacturing processes. “Emerging technologies within smart cities, Industry 4.0, mobility and communications industries all rely on wire and cable to serve as the delivery backbone for new service offerings,” said Jennifer Scanlon, president and CEO, UL Solutions Inc. “We are confident the acquisition of Cimteq allows us to help wire and cable customers continue to evolve and succeed as these technologies introduce new challenges and opportunities.” Cimteq’s technologyalsohelpssimplifythecomplexmanagement of cable design data, from the initial concept to delivering a full bill of materials directly to enterprise resource planning systems. With Cimteq software, UL Solutions is able to provide wire and cablemanufacturers tools to effectively plan, manage and control every aspect of the development and manufacturing process by utilising the latest industrial Internet of Things (IoT) technology to optimise cable manufacturing operations.

The transaction closed on 9 September 2022.

UL Solutions www.ul.com Cimteq Ltd www.cimteq.com

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November 2022