3D Systems Corporation (NYSE:DDD) Buys Out A Unit Of Xerox (NYSE:DDD) For $32.5 Million


Dallas, Texas 12/30/2013 (FINANCIALSTRENDS) – 3D Systems Corporation (NYSE:DDD) the $9.33 billion market capped technology solution provider which specializes in providing printing solutions which are three dimensional in nature. It is also one of the premier 3D printer manufacturing firm and also provides allied products and services like print materials and consultancy solutions. It operates in three developed markets of U.S, Europe and the broader Asia Pacific cluster.

In the past six months, 3D Systems Corporation (NYSE:DDD) has embarked on a major inorganic expansion plan by seeking out other related companies which are aligned with its own operations. In fact in the past 30 days itself, it has acquired two stand alone companies. These are Figulo Corporation and Village Plastics Co which operate in the 3D printing arena.

This expansion plan found another expression in the form of acquisition by 3D Systems Corporation (NYSE:DDD) of a unit of Xerox Corporation (NYSE:XRX) for a full consideration of $32.5 million. This unit specializes in designing and development of engineering and chemistry related product solutions. The two companies entered into a binding agreement which is expected to be signed over the next few months. Readers should note that this buyout by 3D Systems Corporation (NYSE:DDD) comes on the back of a long standing relationship with this unit of Xerox. Thanks to the buyout, the firm is expected to get its hands on “modern labs, together with certain licensed IPs belonging to Xerox”.

On the back of these moves which are bound to have long term impact on the growth and the prospects of the firm, the stock markets have shown their appreciation by shoring up the stock of 3D Systems Corporation (NYSE:DDD) by close to 23 percent in the past one month and by a equally impressive 9.1 percent during training in the past one week of trading.