3D Systems Corporation (NYSE:DDD) recently announced the signing of a definitive agreement to sell its Geomagic software portfolio to Hexagon Manufacturing Intelligence, Inc. for a total cash purchase price of $123 million. The agreement was reached on December 12, 2024.
The Geomagic software portfolio, which includes Design made easier. The transaction is expected to close in the first half of 2025, pending customary regulatory reviews.
Following the divestiture, 3D Systems will focus its efforts on improving its core software platforms, namely 3D Sprint, 3DXpert and Oqton Industrial Manufacturing OS. By allocating resources to these platforms, 3D Systems aims to accelerate its software development initiatives and provide customers with advanced solutions tailored to large-scale manufacturing applications.
3DXpert and 3D Sprint, 3D Systems’ flagship additive manufacturing software solutions, are key to the company’s approach to metal and polymer 3D printing technologies. These platforms streamline the design-to-manufacturing process, optimize structures and reduce production costs by leveraging AI and machine learning capabilities.
In addition, 3D Systems will prioritize the further development of the Oqton Industrial Manufacturing OS, a software solution aimed at managing the production additive manufacturing process. Through AI-powered features, the Manufacturing OS aims to improve efficiency, scalability and operational effectiveness in industrial environments, with a particular emphasis on highly regulated industries such as energy, aerospace and healthcare.
Dr. Jeffrey Graves, president and CEO of 3D Systems, said: “The changes we are announcing today will sharpen our focus on those software platforms that are most critical to our customers’ success in this new operating environment. By streamlining our software operations, focusing solely on our core platforms and leveraging the exceptional capabilities that AI now makes available to us, we will be better positioned to support our customers’ most critical requirements.”
3D Systems plans to continue innovating its software offerings to drive the widespread adoption of additive manufacturing across industries. The company will leverage its extensive experience and technological expertise to enable customers to apply 3D printing technologies in high-volume production environments, ultimately increasing customer value and driving innovation.
Please note that the statements in this press release are forward-looking and subject to risks and uncertainties. Actual results may differ materially from expected results. Visit www.3dsystems.com for more information about 3D Systems and its solutions.
This article is based on the contents of the 8-K SEC filing filed by 3D Systems on December 12, 2024, and the accompanying press release (Exhibit 99.1).
This article was generated by an automated content engine and reviewed by a human editor before publication. For more information, read 3D Systems’ 8K filing here.
Company profile of 3D Systems
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3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, Asia Pacific and internationally. The company offers 3D printing technologies such as stereolithography, selective laser sintering, direct metal printing, multijet printing, color jet printing, polymer extrusion and extrusion and SLA-based bioprinting that transform digital data input generated by 3D design software and computer-aided design (CAD) software or other 3D design tools in printed parts.
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