3D Systems (NYSE:DDD) announced that it has signed agreements to acquire approximately 80% of Phenix Systems, a leading global provider of Direct Metal Selective Laser Sintering 3D Printers based in Riom, France. 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 unique Direct Metal technology with 3D Systems' extensive technology portfolio strengthens the company's offerings and immediately positions it at the heart of the fast-growing aerospace, automotive, defense and patient specific healthcare manufacturing opportunities. The transaction adds complementary printers and materials also strengthening the company's Selective Laser Sintering technology platform.
"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 subject to customary closing conditions, and is expected to close in July 2013. After those conditions are met and the acquisition closes, 3D Systems intends to launch a take-over bid on the remaining 20% of the shares of Phenix Systems, listed on the French stock market (Alternext), followed by a squeeze-out procedure should it reach 95% of the shares or voting rights of Phenix Systems, during the second half of 2013. The maximum price payable by 3D Systems for the 80% block is 13 euros per share.
Certain statements made in this release that are not statements of historical or current facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that include terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to the company's beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside the control of the company. The factors described under the headings "Forward-Looking Statements," "Cautionary Statements and Risk Factors," and "Risk Factors" in the company's periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those reflected or predicted in forward-looking statements.
For more information, visit: www.phenix-systems.com