Jan.3, 2013
3D Systems announced today that it has signed a definitive agreement to acquire Geomagic, Inc., provider of 3D authoring solutions including design, sculpt and scan software tools that are used to create 3D content and inspect products throughout the entire design and manufacturing process.
This acquisition is subject to customary closing conditions, and is expected to close during the first quarter of 2013, after those conditions are met. Terms of the transaction were not disclosed.
The combination of Geomagic's software tools with 3D Systems' portfolio strengthens its 3D authoring platform and increases the company's reseller coverage globally and is expected to be accretive to its non-GAAP earnings in the first full year following the completion of transaction.
Geomagic Founder and CEO Ping Fu will become Chief Strategy Officer of 3D Systems once the deal has closed. "we intend to expand the range of our 3D authoring solutions further into new manufacturing and consumer applications and concurrently maintain and enhance the existing Geomagic and Rapidform product lines." said Abe Reichental, President and CEO, 3D Systems.
Strategic and Financial Benefits
- Growing reseller channel accelerates revenue growth from combined portfolio and presence
- Profitable razor and blades business with accretive software gross profit margins enhances non-GAAP earnings power
- Highly complementary portfolio delivers powerful and affordable design and manufacturing solutions and greater customer value
- Expected to be accretive to non-GAAP earnings in the first full year following completion of transaction
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Posted in 3D Printing Company
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