As of yesterday, Geomagic is fully incorporated into 3D Systems. The company has reported that it has completed its previously announced acquisition of Geomagic for $55 million in cash. The Geomagic portfolio 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, will now be available under the 3D Systems banner.
According to 3D Systems, this transaction adds complementary technology to its ever increasing range of 3D content to print products and services as well as increasing reseller coverage globally.
3DS expects Geomagic to be accretive to earnings and contribute approximately $17 million of revenue to its previously announced 2013 annual guidance.
Avi Reichental, 3DS’ President and CEO stated: “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. The completion of this transaction 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.”