Z Corporation to be acquired by 3D Systems
11/23/2011 8:26:00 AM
BURLINGTON, Mass.,â€“ Z Corporation, a leader in multi-color inkjet 3D printing, has announced that it will be acquired by 3D Systems Corporation (NYSE:DDD), becoming the first company capable of delivering an integrated platform of mixed 3D printing technologies, 3D content, and 3D design services. The news is part of a wider announcement today in which the Contex Group, a subsidiary of Ratos AB, announced that it had signed an agreement to sell its subsidiaries, Z Corporation and VIDAR Systems, to 3D Systems Corporation for USD 137m in cash. The acquisition is subject to customary closing conditions and is expected to close by the end of 2011 or early 2012.
Z Corporation â€“ Message to our Customers and Partners
"Our vision is to help designers create more ideas, more communication, and more innovation; and joining 3D Systems enables to us deliver on that promise even faster," said Z Corporation CEO John Kawola. "We intend to make multi-color 3D printing accessible to far more designers, provide a more complete customer experience, rapidly advance new applications, and build the foundation for a new generation of Z Corporation innovations."
"This decisive step will unleash the growth and value creation potential that this opportunity presents to our expanding base of customers, employees and shareholders," commented Abe Reichental, president and CEO of 3D Systems. "This is a strategic fit for both businesses that will expand our capabilities in product development, channel coverage, manufacturing and marketing. We share Z Corporation's commitment to its customers and partners, and look forward to building the 3D content-to-print platform of the future."
About 3D Systems Corporation
3D Systems is a provider of 3D content-to-print solutions including 3D printers, print materials and on-demand custom parts services for professionals and consumers alike. The company also provides creative content development, design productivity tools and curation services and downloads. Its expertly integrated solutions replace, displace and complement traditional methods and reduce the time and cost of designing new products by printing real parts directly from digital input. These solutions are used to rapidly design, communicate, prototype and produce functional parts, empowering its customers to create with confidence.
More information on the company is available at www.3DSystems.com.