After Quadraxis went into receivership, Hybrid was the successful bidder to acquire its intellectual property from the liquidators, including software source code and trade names.

Announced yesterday (1 December), the deal strengthens the group’s offering in 3D and additive manufacturing. It plans to integrate Quadraxis software into its existing portfolio, which includes other 3D applications such as iC3D and Met3D.

“During its 19 years of operation, Quadraxis developed some unique technology to simplify the capturing of 3D models to facilitate the distortion of graphic designs for shrink sleeves, embossed metal, and thermoformed plastic packaging,” said Nick De Roeck, co-president of Hybrid Software, a Hybrid Software Group company.

“Many companies in the packaging industry use Quadraxis technology in automated workflows to make their packaging production less manual and more efficient.

“We obviously regret the company going into receivership, and really wanted to salvage the technology. By making the successful bid, we are happy to be able to give the technology a new home at Hybrid Software.”

The group will continue to assist current customers with continued support and maintenance for their existing Quadraxis software.

In its Q3 results, released in October, Hybrid Software Group said it had made a multi-million euro gain on the sale of internet addresses. This boosted EBITDA which would have been lower than the prior year otherwise.

The former Global Graphics business changed its name to Hybrid Software Group a year ago.