Virtualware acquires all of Virtalis with institutional financial support

Virtualware has acquired Virtalis, a UK-based digital twin software company, with support from institutional investors.

Virtualware, a Portugal-based digital twin software company, has acquired Virtalis, a UK-based company specializing in digital twin technology. The acquisition was supported by institutional investors. The terms of the deal were not disclosed. Virtalis' technology is used in various industries, including manufacturing and construction, to create digital replicas of physical systems.

The acquisition is expected to strengthen Virtualware's position in the digital twin market. Virtalis' technology will be integrated into Virtualware's existing product portfolio, expanding its capabilities in digital twin simulation and analysis.

The acquisition is the latest development in the growing digital twin market, which is expected to reach $1.4 billion by 2025, according to a recent report.