Xerox's solid ink product design, chemistry, and engineering units in Wilsonville, Oregon have been purchased by 3D printing company 3D Systems, according to a press release. The acquisition deal is valued at $32.5 million in cash, wrote Daily Tech.
Under the terms of the said deal, the 100-person Oregon team of Xerox will now join 3D Systems, the report said.
Avi Reichental, President and Chief Executive Officer of 3D Systems, said of the transaction: "We are pleased to expand our relationship with an innovative partner of the caliber of Xerox and expect that acquiring some of the Xerox Wilsonville engineering team, together with their state-of the-art development labs and selected licensed IP, will catapult our 3D printers' development and manufacturing capabilities forward."
3D Systems is a company that has been around for three decades. The firm is looking to establish itself as a leader in the industry of 3D printing technologies, the report stated.
According to 3D Systems, the acquisition is expected to close before the year ends, Daily Tech reported.
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