Align Technology announced March 4 that it as entered into a definitive agreement to acquire Exocad for approximately $420 million in cash.
With the acquisition, Align Technology hopes to strengthen its digital platform. Exocad develops CAD/CAM software that integrates into dental labs and dental practices. Align Technology will integrate the software with its iTero intraoral scanners.
In the future, Align Technology hopes to expand to a fully validated workflow that would enable dentists to complete millings of dental restorations in-house.
Exocad will continue to operate as it exists today. The company's leadership is expected to remain after the transaction is complete. Align Technology anticipates the acquisition to close during the second quarter of 2020.