3D Systems Enters Agreement to Sell Geomagic Software Portfolio

3D Systems Corporation (NYSE:DDD) has recently announced the signing of a definitive agreement for the sale of 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 X, Control X, Freeform, Wrap, and Geomagic for SolidWorks, is a widely recognized software toolkit known for its prowess in creating digital models from physical objects, facilitating processes like reverse engineering and quality control inspections. The transaction is expected to finalize in the first half of 2025, pending customary regulatory reviews.

Following the divestiture, 3D Systems will concentrate its efforts on enhancing 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 for large-scale production applications.

3DXpert and 3D Sprint, the core additive manufacturing software solutions from 3D Systems, are pivotal in the company’s approach to metal and polymer 3D printing technologies. These platforms streamline the design-to-manufacture process, optimize structures, and reduce production costs by utilizing AI and machine learning capabilities.

Additionally, 3D Systems will prioritize the further development of the Oqton Industrial Manufacturing OS, a software solution geared towards managing the production additive manufacturing process. Through AI-powered functionalities, the Manufacturing OS aims to improve efficiency, scalability, and operational effectiveness in industrial settings, with a particular emphasis on highly regulated industries like energy, aerospace, and healthcare.

Dr. Jeffrey Graves, President, and CEO of 3D Systems, stated, “The changes we’re announcing today will sharpen our focus on those software platforms that are most critical to our customers’ success in this new-use environment. By streamlining our software operations, focusing exclusively on our core platforms, and leveraging the exceptional capabilities that AI is now making available to us, we will be better positioned to support our customers’ most critical requirements.”

3D Systems intends to continue innovating its software offerings to drive the widespread adoption of additive manufacturing in various industries. The Company is set to leverage its extensive experience and technological expertise to empower customers in adopting 3D printing technologies in high-volume production environments, ultimately enhancing customer value and fostering innovation.

Please note that statements made in this news release are forward-looking and subject to risks and uncertainties. Actual results may differ materially from those projected. For further information on 3D Systems and its solutions, visit www.3dsystems.com.

This article is based on the content of the 8-K SEC Filing submitted by 3D Systems on December 12, 2024, and the attached press release (Exhibit 99.1).

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read 3D Systems’s 8K filing here.

3D Systems Company Profile

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3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts.

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