|3D Systems Completes the Acquisition of Geomagic
Complementary Combination Enhances 3D Authoring Platform,
Creates Value and Delivers Better, More Affordable Customer
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
"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