3D Systems, in a bid to expand its capacity to manufacture parts on demand, has acquired Rapid Product Development Group. The three dimensional company has acquired the Escondido, CA based firm for an undisclosed amount.
3D Systems had announced the purchase, saying it is planning to integrate the company into its 'Quickparts' business. 3D has implied that the deal would boost sales to add profits in the short term. It has also increased its revenue forecasts from US$460 million to US$510 million or from US$1.05 to US$1.20 per share 'in connection with the acquisition.'
Despite the positive forecasts, investors reacted by lowering bids for shares 1.4% to its closing price of US$37.71 per share.
According to Tony Moran, RPDG founder and CEO, "We are honored to become part of 3D Systems, the recognized global 3D content-to-print leader. Together, we can deliver the full impact of 3D printing and traditional manufacturing capabilities to our global customers."
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