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Aras, an Andover-based company that builds software to help businesses manage the development of complex products, said Wednesday that it had raised $40 million in new investment from a group that includes the venture arm of General Electric Co.

The 17-year-old company, whose clients include Airbus, General Motors, Hitachi, Honda, and Microsoft, has raised a total of $64 million to date. It said it would use the money to expand its operations and potentially acquire other companies.

“Enterprises need a much more flexible, scalable and upgradable platform for the business of engineering,” said Peter Schroer, founder and chief executive of Aras.

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The funding round was led by Silver Lake Kraftwerk, and included participation from GE Ventures, whose parent company is also an Aras customer.


Andy Rosen can be reached at andrew.rosen@globe.com. Follow him on Twitter at @andyrosen.