Align Technology to Acquire Cadent
Posted Apr 28, 2011, Published 2011-04-01
Align Technology, Inc., marketer of Invisalign, has signed a definitive agreement to acquire privately held Cadent Holdings, Inc. (Cadent), a provider of 3D digital scanning solutions, including iTero. Align will pay approximately $190 million in cash for all shares of Cadent; the acquisition is expected to close during the second quarter of 2011.
According to Align Technology, the combination of the two companies will help accelerate the use of intra-oral scanning in the dental industry by leveraging Align's global sales reach and extensive professional and consumer marketing capabilities. "We are excited about the opportunities for growth that Cadent provides, not only in terms of accelerating adoption of intra-oral scanning among dental professionals but also in creating greater value for existing Invisalign users," says Thomas Prescott, Align Technology President and Chief Executive Officer.
The acquisition follows the January 2011 announcement of a joint development agreement between Align and Cadent to co-develop Invisalign software applications that will run on Cadent scanners. Align is in final beta tests with Cadent's systems and expects to announce interoperability for its scanners in the second quarter of 2011. To learn more about either company, visit www.invisalign.com or www.cadentinc.com.
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