SAN DIEGO -- Altium has completed its acquisition of Transfer BV, a longtime reseller of its PCB CAD tools.

The acquisition includes a combination of cash, plus additional payments based on sales performance over the next three years.

Transfer BV is based in the Netherlands and supplies Belgium, the Netherlands and Luxembourg. Altium plans to leverage Transfer to drive future growth in Northern Europe.

In a statement, Altium CFO Joe Bedewi said, "We are extending our direct reach into Northern Europe to sell directly in the Netherlands, Belgium and Luxembourg. Altium is pleased to have the highly capable and strongly motivated Transfer BV team join our direct sales force to lead our sales in Northern Europe. Transfer BV will implement Altium's successful direct transactional sales model that has proven success in the Americas and the DACH region of Europe (Germany, Austria and Switzerland)."

"This is an exciting development for us," said Transfer CEO Peter de Ruiter. "Our vision for the PCB industry has always been aligned with Altium and we look forward to driving sales growth strongly in Northern Europe and putting Altium's leading-edge PCB design tools into the hands of engineers."

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