Happy New Year! We’re officially not back in the office until next week, but this is big news: 3D Systems is acquiring Geomagic for an undisclosed amount. The acquisition should close during the first quarter. Geomagic founder Ping Fu will join 3D Systems to become its Chief Strategy Officer.
The rationale for the deal, according to the press release, is that “the combination of Geomagic’s powerful sculpting, modeling, scanning and inspecting software tools with 3D Systems’ portfolio [will] strengthen its 3D authoring platform and positions the company for accelerated growth in the fast-growing, 3D content-to-print space. The transaction adds complementary products and technology, increases the company’s reseller coverage globally and is expected to be accretive to its non-GAAP earnings in the first full year following the completion of transaction.”