3D Systems Announces Sale of Geomagic Software Portfolio for $123 Million
3D Systems (NYSE: DDD), a leading provider of 3D printing technology and solutions, recently announced the completion of the sale of its Geomagic software portfolio to Hexagon’s Manufacturing Intelligence Division. The transaction was finalized for $123 million before working capital adjustments, following the fulfillment of regulatory approvals and closing conditions.
Strengthening the Balance Sheet and Investing in Future Growth
The proceeds from this sale, estimated to be approximately $100 million, will be used by 3D Systems to strengthen its balance sheet and invest in future growth and profitability initiatives. This strategic move will enable the company to focus on its core additive manufacturing software solutions and advance production applications, ultimately accelerating customer adoption.
Focusing on Core Additive Manufacturing Software Solutions
With the sale of the Geomagic software portfolio, 3D Systems has decided to sharpen its focus on its core additive manufacturing software solutions. These solutions include 3D Sprint, 3DXpert, and Oqton Industrial Manufacturing OS. By concentrating on these platforms, 3D Systems aims to advance production applications and accelerate customer adoption.
Impact on Customers
For existing Geomagic software users, the sale to Hexagon is expected to bring about several benefits. Hexagon is known for its expertise in digital reality solutions, and the integration of Geomagic software into its portfolio will result in enhanced capabilities and improved support. Customers can continue to use their existing software, and any future updates or enhancements will be provided by Hexagon.
Impact on the Industry and the World
The sale of 3D Systems’ Geomagic software portfolio to Hexagon marks a significant shift in the additive manufacturing industry. This transaction underscores the growing importance of software solutions in the manufacturing process and the increasing consolidation within the industry. As more companies focus on their core competencies, we can expect to see further acquisitions and partnerships in the future.
Conclusion
3D Systems’ sale of its Geomagic software portfolio to Hexagon for $123 million marks a strategic move for the company, allowing it to focus on its core additive manufacturing software solutions and invest in future growth initiatives. Existing Geomagic software users can look forward to enhanced capabilities and improved support from Hexagon. The transaction also highlights the growing importance of software solutions in the manufacturing process and the consolidation trend within the additive manufacturing industry.
- 3D Systems sells Geomagic software portfolio to Hexagon for $123 million
- Proceeds to be used for balance sheet strengthening and growth initiatives
- Focus on core additive manufacturing software solutions: 3D Sprint, 3DXpert, and Oqton
- Benefits for existing Geomagic software users: enhanced capabilities and improved support
- Industry implications: growing importance of software solutions, consolidation trend
