3D Systems Corp. (NYSE: DDD) has signed agreements to acquire approximately 80% of Phenix Systems, a manufacturer of Direct Metal Selective Laser Sintering 3D Printers based in Riom, France.
Phenix Systems designs, manufactures and sells proprietary Direct Metal 3D Printers that can print chemically pure fully dense metal and ceramic parts from very fine powders with the granularity of 6 to 9 microns. Materials include stainless steel, tool steel, super alloys, non-ferrous alloys, precious metals and alumina for a variety of aerospace, automotive and patient specific medical device applications.
The transaction adds complementary printers and materials, strengthens the company's Selective Laser Sintering technology platform and is expected to be accretive to the company's non-GAAP earnings in the first full year following the completion of transaction.
This acquisition is subject to customary closing conditions, and is expected to close in July 2013. After those conditions are met and the acquisition closes, 3D Systems intends to launch a take-over bid on the remaining 20% of the shares of Phenix Systems, listed on the French stock market (Alternext), followed by a squeeze-out procedure should it reach 95% of the shares or voting rights of Phenix Systems, during the second half of 2013. The maximum price payable by 3D Systems for the 80% block is 13 euros per share.
Posted in 3D Printing Company
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