An international company penned a deal to buy Springfield-based Team D3, a technology firm in business for more than two decades.
Symetri, a European company with operations in the United States, is the buyer. The financial terms and estimated closing date of the deal were undisclosed in a news release.
"When we began to consider strategic options to take Team D3 to the next level, one thing was clear: We wanted to partner with someone that put clients and innovation at the heart of everything they do," said Kevin Schlack, CEO of the Springfield-based company, in the release. "When we then looked at Symetri’s own (intellectual property) and the investments they make every year in (research and development), we realized the incredible value it could offer our clients."
Team D3, which operates three brands in D3 Technologies, MG AEC Technology Partners and ECAD, generates annual revenue of roughly $120 million, with over 200 employees and some 6,000 clients. -
The company founded in 1999 is an Autodesk manufacturing partner in North America, according to its website. Autodesk is a software firm that offers products and services for industries such as architecture, engineering, construction and manufacturing.
The move by Symetri comes after the international company bought Autodesk partner Microdesk Inc. in early 2022. Team D3 will continue to operate under its current name with the same offices but with added capacity through Symetri and Microdesk, according to the release.
“After our successful acquisition of Microdesk last year, we were looking for an opportunity to expand our offering to our clients in the U.S.," said Jens Kollserud, CEO of Symetri, in the release. "Team D3 is an excellent fit both strategically and operationally with their industry expertise and presence across the Midwestern United States."
Springfield Business Journal’s 2023 Trusted Advisers event honors 20 businesspeople.