3D Systems announces that it has completed its previously announced acquisition of Geomagic, Inc. (Geomagic), for $55 million in cash. Geomagic is a leading global 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.
The combination of Geomagic’s powerful sculpting, modeling, scanning and inspecting software tools with 3D Systems’ portfolio strengthens its 3D authoring platform and positions the company for accelerated growth in the expanding advanced manufacturing, healthcare and consumer opportunities. The transaction adds complementary products and technology and increases the company’s reseller coverage globally.
The Company expects Geomagic to be accretive to earnings and contribute approximately $17 million of revenue to its previously announced 2013 annual guidance.
“This is an exciting development for us and our customers. With our combined portfolio, we are committed to enhance our customers’ processes and workflows, including capture, design, modify, inspect and interact,” says Avi Reichental, President and CEO of 3D Systems. “The completion of this transaction today marks the beginning of a journey to democratize access to our unmatched portfolio of powerful 3D content-to-print products and services for the benefit of professionals and consumers alike.”
