3D Systems Acquires Rapidform SShot
3D Systems has announced that it has acquired Rapidform, a leading global provider of 3D scan-to- CAD and inspection software tools, located in Seoul, South Korea for $35 million in cash, subject to final closing adjustments.
Rapidform’s reverse engineering and inspection software empower product developers to deliver improved product quality and shorter time-to-market. By combining scan data processing, mesh optimization, auto surfacing and CAD modeling in a single, integrated tool, Rapidform has unlocked the power of 3D digitization for engineers and manufacturing professionals worldwide.
3D Systems expects Rapidform to contribute $15 million of revenue and deliver between $0.06 and $0.09 in earnings per share to its 2013 non-GAAP results.
“This is a game-changer for our customers and shareholders, and is well-aligned with our strategic plan,” said Abe Reichental, President and CEO of 3D Systems. “We are thrilled to welcome Calvin Hur and his team to our company and we expect that the integration of the Rapidform proprietary products with 3D Systems’ extensive portfolio will result in accelerated growth within the rapidly expanding 3D content-to-print space.”
“I am very pleased and honored to become part of 3D Systems, a world-class leader and innovator,” said Calvin Hur, CEO of Rapidform. “Joining 3D Systems provides us with the scale, resources and strategic platform to realize our vision of democratising the scan- to-CAD workflow for the benefit of designers and engineers.”
With the addition of Rapidform, 3D Systems has secured the cornerstone of its fifth growth initiative: to create a seamless, digital scan, design and print platform for the benefit of its customers. This important growth initiative is consistent with the company’s overall drive to democratise and deliver integrated 3D content-to-print solutions. Rapidform broadens 3D Systems’ range of capabilities with complementary products and technology, and extends its coverage and breadth globally with a significant foothold in South Korea and Japan.
Conference Call and Webcast Details
3D Systems will hold a conference call and webcast today, October 9, 2012, at 9:00 a.m., Eastern Time, to discuss its acquisition of Rapidform.
To access the webcast, log onto 3D Systems’ web site at investor.3dsystems.com. The webcast will be also available for replay beginning approximately two hours after completion of the call.
