Align Technology has signed an agreement to acquire dental CAD/CAM software provider exocad Global Holdings for around €376m ($420m).

exocad, which is majority owned by Carlyle Europe Technology Partners (CETP), provides fully integrated workflows to dental labs and dental practices through a wider customer base of partners, and resellers in more than 150 countries.

exocad CEO and co-founder Tillmann Steinbrecher said: “Together, we will further strengthen exocad’s position as a key technology provider for the dental CAD/CAM industry and drive continuous innovation with the open and integrated approach that is the foundation of our company.”

The acquisition of exocad will enable Align to advance its digital platform to deliver better tools and features for diagnostic, restorative, implant, and orthodontic workflows.

In addition, the exocad acquisition brings expertise in restorative dentistry, implantology, guided surgery, and smile design, as well as helps to expand Align’s Invisalign and iTero digital solutions.

The acquired business also expands Align’s platform in digital dentistry with up to 200 partners and over 35,000 licenses installed across the world.

Align and exocad first started their collaboration in 2017

Both firms first began their collaboration in 2017 with the incorporation of Align’s iTero intraoral scanners and exocad Chairside CAD software.

Align Technology president and CEO Joe Hogan said: “Dentistry today is evolving digitally, with technology advances and consumer awareness driving new opportunities in ortho-restorative and comprehensive treatment.

“Align is in a unique position to lead the digital transformation of dentistry by reimagining comprehensive treatment planning and by reinventing the way orthodontists and GPs practice with our digital platform for transforming smiles.”

The deal is expected to be completed in the second quarter of 2020. Goldman Sachs is serving as exclusive financial advisor to Align, while UBS Investment Bank is acting as exclusive financial advisor to exocad and funds managed or advised by CETP.

In January 2019, North American dental implant firm Keystone Dental signed a merger agreement with Israeli-based dental implant company Paltop Advanced Dental Solutions.