Phenix Systems designs, manufactures and sells proprietary Direct Metal 3D Printers that can print chemically pure fully dense metal and ceramic parts from very fine powders with the granularity of 6 to 9 microns.Materials include stainless steel, tool steel, super alloys, non-ferrous alloys, precious metals and alumina for a variety of aerospace, automotive and patient specific medical device applications.
The combination of Phenix Systems Direct Metal technology with 3D Systems’ technology portfolio will enable it to pursue opportunities in the aerospace, automotive, defense and patient specific healthcare manufacturing.
The transaction adds complementary printers and materials, strengthens the company’s Selective Laser Sintering technology platform and is expected to be accretive to the company’s non-GAAP earnings in the first full year following the completion of transaction.
“Phenix represents the perfect strategic fit for us and we are thrilled to welcome François Reymondet, Patrick Teulet and their entire team to 3D Systems once the deal has closed,” said Avi Reichental, President and CEO, 3D Systems.
“Our complementary capabilities in advanced manufacturing combined with our effective R&D and extensive marketplace reach and coverage are sure to result in current and future direct metal solutions that will delight our customers.”
“We have watched and admired 3D Systems for many years as they have driven the adoption of 3D content-to-print solutions globally. We believe that now is the right time to combine our efforts to take advantage of the accelerating demand for direct metal production,” said François Reymondet, CEO of Phenix Systems.
This acquisition is expected to close in July 2013. 3D Systems then intends to launch a take-over bid on the remaining 20 percent of the shares of Phenix Systems followed by a squeeze-out procedure should it reach 95 percent of the shares or voting rights of Phenix Systems, during the second half of 2013.