Continuing a busy quarter of a year, 3D Systems (3DS) announced a definitive agreement in which it will acquire all outstanding shares of 3D CAD/CAM software developer Cimatron.
3D Systems will acquire the shares of Cimatron for $8.97 per share in cash, subject to certain adjustments for Cimatron transaction expenses, for a total of approximately $97 million, inclusive of its net cash.
Cimatron provides integrated 3D CAD/CAM software products for manufacturing. The company's products are used by a growing number of firms worldwide for their 3D production molds, tools, and dies in a wide variety of functional end-use manufacturing applications.
"We believe that the perfect strategic fit between our businesses, combined with expanded capabilities in product development, channel coverage and marketing, could present sizeable synergies that together offer significant long-term customer benefits and shareholder value," said Avi Reichental, president and CEO of 3D Systems, in a press release.
"We are delighted to combine our leading 3D CAD/CAM software products with 3DS' expanding design and manufacturing digital thread," said Danny Haran, CEO of Cimatron. "We have always been focused on providing comprehensive, cost-effective solutions that streamline manufacturing cycles and shorten product delivery time, and as part of 3DS we can substantially accelerate our progress and extend our reach and impact."
The transaction is subject to customary closing conditions, including requisite regulatory approvals and the approval of Cimatron's shareholders. The boards of directors of both companies have unanimously approved the proposed transaction. The companies expect the transaction to close in the first quarter of 2015.
In September, 3D Systems acquired Belgium-based LayerWise, a provider of advanced direct metal 3D printing and manufacturing services.
