3D Systems sells Geomagic software portfolio to Hexagon

Shares of 3D Systems Corporation are rising in pre-market trading on Thursday after the company entered into a definitive agreement to sell its Geomagic software portfolio to the Manufacturing Intelligence Division of Hexagon for $123 million. The Geomagic portfolio includes important tools such as Design X, Control X, Freeform, Wrap, and Geomagic for SolidWorks. These software solutions are essential in the field of reverse engineering and enable the creation of digital models from physical objects for manufacturing. The sale is part of a strategic review of 3D Systems' software investment strategy. The transaction is expected to close in the first half of 2025, subject to regulatory approvals. After the sale, 3D Systems will focus on its core software platforms: 3D Sprint, 3DXpert, and the Oqton Industrial Manufacturing OS. The goal is to advance the adoption of 3D printing. By focusing on these priorities, the company aims to accelerate software development, leverage artificial intelligence and machine learning, and promote the adoption of additive manufacturing in production environments with high reliability requirements. This is intended to deliver greater value to customers and shareholders. Jeffrey Graves, President and CEO of 3D Systems, emphasized: "The changes announced today will sharpen our focus on those software platforms that are most critical to the success of our customers in this new usage environment." He added, "By streamlining our software activities, solely focusing on our core platforms, and harnessing the extraordinary opportunities that AI now offers, we will be better equipped to support the most critical needs of our customers as they bring 3D printing into high-volume production environments.