Blue Fox Acquires Assets of Bankrupt CAD/CAM Supplier Sophis
July 3, 2003
Blue Fox Enterprises N.V., a Dutch CAD/CAM supplier to the international fashion and textile industries, has acquired the assets of Sophis Systems N.V., a creator of CAD/CAM software. Sophis, which is based in Wevelgem, Belgium, declared bankruptcy in mid-June. Under terms of the agreement between Blue Fox and the party administering the assets of Sophis, Blue Fox will acquire Sophis's software, maintenance agreements, client lists and all product and brand names of Sophis.
In a press release dated July 2, Blue Fox, which is listed on the Official Market of the Euronext Amsterdam N.V. stock exchange, said it plans to continue Sophis's activities.
No one at Sophis or Blue Fox could be reached immediately to comment on how Sophis's international offices and workforce would be effected.
The acquisition is congruous with Blue Fox's decision to focus on CAD/CAM activities and divest itself of other operations including its PC software distribution business, which it sold late last year.
Two years ago, Blue Fox acquired the CAD/CAM software producer, NedGraphics and invigorated that company with strong capital investments under the direction of Blue Fox chairman Sjoerd Eisma.
Sources at NedGraphics' American offices said it was too early to say whether the Sophis name would be kept or whether the assets of the recently bankrupt company will be brought under the NedGraphics banner.
According to information on Blue Fox's official websitem CAD/CAM accounted for approximately half of Blue Fox's revenues and almost all of its profits in 2002. In January 2003, the company said CAD/CAM was generating two-thirds of the net profit.
In a press release dated July 2, Blue Fox, which is listed on the Official Market of the Euronext Amsterdam N.V. stock exchange, said it plans to continue Sophis's activities.
No one at Sophis or Blue Fox could be reached immediately to comment on how Sophis's international offices and workforce would be effected.
The acquisition is congruous with Blue Fox's decision to focus on CAD/CAM activities and divest itself of other operations including its PC software distribution business, which it sold late last year.
Two years ago, Blue Fox acquired the CAD/CAM software producer, NedGraphics and invigorated that company with strong capital investments under the direction of Blue Fox chairman Sjoerd Eisma.
Sources at NedGraphics' American offices said it was too early to say whether the Sophis name would be kept or whether the assets of the recently bankrupt company will be brought under the NedGraphics banner.
According to information on Blue Fox's official websitem CAD/CAM accounted for approximately half of Blue Fox's revenues and almost all of its profits in 2002. In January 2003, the company said CAD/CAM was generating two-thirds of the net profit.
