3D Systems to Acquire Z Corp and Vidar
| 3D Systems to Acquire Z Corp and Vidar |
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Rock Hill, South Carolina - 3D Systems Corporation announced today that is has signed a definitive agreement to acquire Z Corporation and Vidar Systems for $137 million in cash from Contex Group, a subsidiary of Ratos AB, a listed private equity company located in Stockholm, Sweden. The combination of Z Corp and Vidar products and services with 3D Systems' complementary portfolio uniquely positions 3D Systems for accelerated growth in the fast growing 3D content-to-print space. The transaction fills 3D Systems' product performance and price gaps with complementary products and technology and doubles its reseller coverage gobally. The Company stated that it expects the acquisition of Z Corp and Vidar to be immediately accretive to its cash generation and to its Non-GAAP earnings in the first full year following completion of this transaction. " We believe that the perfect strategic fit between these businesses, combined with expanded cababilities in product development, channel coverage, manufacturing and marketing, could present sizeable revenue and cost synergies that together offer significant long-term customer benefits and sharholder value, "commented Abe Reichental, President and CEO of 3D Systems.
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