Avatecvh Solutions has taken over Rand Worldwide to create the world's largest AutoCAD dealer.
Avatech originally became a public company by doing a reverse merger of PlanetCAD. Five years ago, WorldCAD Access reported:
PlanetCAD was renamed from Spatial, after the ACIS-half of Spatial was bought by Dassault Systemes. Through a reverse buy-out, PlanetCAD took over Avatech, and then changed its name to Avatach -- along the way avoiding a hostile takeover by PCD Investments -- so that Avatech could go public.
Yesterday, Avatech did a similar thing, explaining it thusly:
Avatech Solutions acquired all issued and outstanding capital securities of Rand Worldwide in a reverse merger transaction. The acquisition was among Avatech, ASRW Acquisition Sub (a wholly-owned subsidiary of Avatech), Rand Worldwide, and RWWI Holdings (sole stockholder of Rand Worldwide).
At the effective time of the acquisition, Avatech caused ASRW to merge with Rand Worldwide, with Rand Worldwide as the surviving entity [that's the reverse part of the merger]. As a result of the acquisition, Rand Worldwide became Avatech's wholly-owned subsidiary.