Fictiv, a contract manufacturer and supply chain technology company, has agreed to be acquired by Misumi Group Inc., a Tokyo-based supplier of mechanical components for the manufacturing industry.
The deal is an all-cash transaction of $350 million, subject to closing adjustments.
“From its earliest days, Misumi’s culture of ingenuity and innovation has made us a leader and pioneer in making it easier for customers to procure manufacturing components that fit their needs,” said Ryusei Ono, representative Director and president of Misumi Group Inc.
Misumi says the acquisition will accelerate the development of its manufacturing and supply chain solutions that “deploy the power of AI through digitally native tools built on top of robust physical infrastructure to build real-world products in an efficient, scalable way.”
“Fictiv and Misumi share a joint vision to make world-class manufacturing and supply chain capabilities easier, more accessible, more intelligent, and democratized. Giving more teams the tools to take their ideas from concept to reality will unlock innovation to fuel the advancements we want to see in the world,” says Dave Evans, Fictiv Co-Founder and CEO.
Fictiv’s Global Manufacturing Supply Chain brings together AI-driven technology workflows, a global manufacturing network, and teams of local manufacturing experts to simplify sourcing for custom mechanical components. Fictiv says customer adoption of its solution has grown at a rapid pace, accelerated further by the recent launch of production manufacturing solutions.
“This acquisition will enable us to turbocharge our mission to simplify sourcing. Fictiv and Misumi bring together digital and physical infrastructure to support a full bill-of-materials, and reduce the time, cost, and risk associated with building and scaling products,” said Nate Evans, Co-Founder and CXO for Fictiv.
Misumi supplies mechanical components, tools, consumables, and other products to more than 318,000 companies worldwide. Combining with Fictiv will help make their solution even better and more scalable, benefitting customers by offering a single global platform capable of building an entire bill-of-materials with world-class speed, price, and quality.
The deal is subject to customary closing conditions including regulatory approvals.
