3D Systems Completes the Acquisition of Geomagic
Complementary Combination Enhances 3D Authoring Platform, Creates Value and
Delivers Better, More Affordable Customer Experience
ROCK HILL, S.C., Feb. 27, 2013 (GLOBE NEWSWIRE) -- 3D Systems (NYSE:DDD)
announced today 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
"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," said 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."
Certain statements made in this release that are not statements of historical
or current facts are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995.Forward-looking statements
may involve known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of the company to be
materially different from historical results or from any future results or
projections expressed or implied by such forward-looking statements. In
addition to statements that explicitly describe such risks and uncertainties,
readers are urged to consider statements in the conditional or future tenses
or that include terms such as "believes," "belief," "expects," "estimates,"
"intends," "anticipates" or "plans" to be uncertain and forward-looking.
Forward-looking statements may include comments as to the company's beliefs
and expectations as to future events and trends affecting its business and are
necessarily subject to uncertainties, many of which are outside the control of
the company.The factors described under the headings "Forward-Looking
Statements," "Cautionary Statements and Risk Factors," and "Risk Factors" in
the company's periodic filings with the Securities and Exchange Commission, as
well as other factors, could cause actual results to differ materially from
those reflected or predicted in forward-looking statements.
About 3D Systems Corporation
3D Systems is a leading global provider of 3D content-to-print solutions
including 3D printers, print materials and on-demand custom parts services for
professionals and consumers alike. The company also provides CAD modeling,
reverse engineering and inspection software tools and consumer 3D printers,
apps and services. Its expertly integrated solutions replace and complement
traditional methods and reduce the time and cost of designing and
manufacturing new products. 3D Systems' products and services are used to
rapidly design, communicate, prototype or produce real functional parts,
empowering customers to create and make with confidence.
More information on the company is available at www.3DSystems.com
The 3D Systems Corporation logo is available at
About Geomagic, Inc.
Geomagic is a global company dedicated to advancing and applying 3D technology
for the benefit of humanity. 3D from Geomagic is breaking new ground and new
levels of usability in 3D digital reality, touch-enabled design and product
verification. The company's scanning and design software solutions are used to
capture and model 3D content from physical objects, organically sculpt complex
shapes, and prepare products for manufacturing. In addition, the company
produces 3D metrology and inspection software that verifies dimensional
quality by comparing as-built products to master designs and its Sensable
Phantom haptic devices simulate the sense of touch in a digital environment.
More information on the company is available at www.geomagic.com.
CONTACT: Investor Contact: Stacey Witten
Media Contact: Cathy Lewis
3D Systems Corporation Logo
Press spacebar to pause and continue. Press esc to stop.