3D Systems Corp. (DDD: Quote) said Thursday that it has completed the acquisition of Xerox Corp.'s (XRX) solid ink engineering and development teams and state of the art development labs and relevant patent portfolio for $32.5 million in cash.
The deal was announced last month.
3D Systems expects the acquisition of the highly specialized printer design and material science teams together with their labs and relevant IP to catapult its printers' development and manufacturing capabilities a full decade forward and to substantially accelerate its revenue growth-rate over time.
As part of the deal, 3DS added more than 100 experienced Xerox engineers and contractors specializing in product design and materials science to its global R&D team and plans to immediately begin to operate its own facility within the Xerox Wilsonville campus.
3DS expects to increase its annual R&D expenditures over the next few years by about 75% to 100% from its full-year 2013 R&D expense as it completes certain Xerox related engineering services commitments and fully leverages its expanded capabilities, and expects to realize net revenue benefits by the fourth quarter of 2014.
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by RTT Staff Writer
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