3D Systems Corp. (DDD) announced on Thursday its decision to enter a definitive agreement to divest its Geomagic software suite to Hexagon AB (HXGBF.PK), a Swedish leader in digital reality solutions, for $123 million.
This deal, orchestrated by Hexagon's Manufacturing Intelligence Division, emerges from a strategic assessment of 3D Systems' software investment strategies. The completion of this transaction is anticipated in the first half of 2025, pending customary regulatory approvals.
The Geomagic software suite encompasses a comprehensive set of tools, including Design X, Control X, Freeform, Wrap, and Geomagic for SolidWorks. Hexagon recognized the suite's value, highlighting its capability to produce high-quality 3D models using data from varied sources such as laser scanning.
In 2023, the Geomagic software division employed approximately 100 individuals, generated roughly $30 million in revenue, and achieved operating margins that enhanced those of Hexagon's Manufacturing Intelligence division.
Norbert Hanke, the interim President and CEO of Hexagon, remarked, "The integration of Geomagic with our existing solutions will reinforce our market leadership in 3D metrology and reengineering. This move underscores our dedication to providing user-friendly tools that tackle complex tasks, thus enabling our clients to bring innovative and superior products to the market swiftly and with assurance."
Post-transaction, 3D Systems will concentrate on software solutions pivotal to the customer integration and use of its 3D printing technologies.
