LightWork Design Acquired By Management

SHEFFIELD, UK (11 May 2006) - LightWork Design, the world's leading supplier of rendering solutions for developers of advanced 3D computer graphics software, has been acquired by the Management Team in a Management Buy Out. LightWork Design Limited together with MachineWorks Limited have been acquired by VSI Limited, a new holding company created as the vehicle for the MBO, backed by Matrix Private Equity Partners and HSBC Bank. MachineWorks Limited supplies the leading simulation and verification toolkit for software and machine tool OEMs. Both companies are global leaders in their respective markets, and have long-standing relationships supplying blue chip CAD, CAM and Configuration vendors around the world.

The MBO team is led by David Forrester, the Group Managing Director and Finance Director, David Manley the Managing Director of MachineWorks Limited, and Andy Chapman the Managing Director of LightWork Design Limited.

Ashley Broomberg, director at Matrix, said; "We were attracted to this investment because both LightWork Design and MachineWorks are genuine global leaders in their niche markets with a strong intellectual property base. The companies have long-term customer relationships and a strong incumbent management team. The markets in which these businesses operate are poised for growth as hardware developments facilitate the use of 3D design tools and more complex machining tools become more widely used."

David Forrester commented; "We are excited about this opportunity and are looking forward to continuing to work with our customers and partners. The companies have strong teams that will remain in place to assist us with driving the businesses forward."

About LightWork Design 

LightWork Design is the world?s leading supplier of rendering solutions for developers of advanced 3D computer graphics software. Established in 1989, LightWork Design has continually developed LightWorks to provide customers with innovative and market-focused solutions for the creation of powerful and easy-to-use rendering applications. LightWorks is embedded in over 80 software applications and used by more than 1 million users worldwide, far more than any other renderer.

www.lightworkdesign.com

About MachineWorks Ltd 

MachineWorks Technology sets the standard for CNC simulation and verification component software in the industry. Our toolkit has been adopted by software and hardware OEMs looking for a solution that combines speed, accuracy and stability. It is ideally suited for complex machining simulation, clash detection and full machine simulation. 

www.machineworks.com

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