3D Systems Corp. (DDD: Quote) said Wednesday that it has completed its acquisition of Geomagic, Inc. for $55 million in cash.
Geomagic is a 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.
3D Systems expects Geomagic to be accretive to earnings and contribute about $17 million of revenue to its previously announced 2013 annual guidance.
by RTT Staff Writer
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