3D Systems inks deal with Xerox’s Solid Ink Teams in Oregon
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.