3D Systems to Raise $100 Million in Common Stock for Acquisitions
[The company] intends to use the net proceeds from the offering to finance future acquisitions of other entities or their assets and for working capital and general corporate purposes.
The market did not respond well to this announcement, and shares dropped 6% in after hours trading. Their market capitalization this morning is $1.57 billion.
3D Systems has recently been on an acquisition bender:
- Bespoke Innovations in May for 3D printed personalized prosthetics
- FreshFiber in May 2012 for 3D printed electronics accessories
- My Robot Nation in April 2012 for creative solutions to support 3D printing community Cubify for kids and adults
- Paramount Industries in April 2012 to advance aerospace and medical device 3D printing
Based on this announcement, it appears that more consolidation is on the roadmap for the 3D printing industry, and that 3D Systems is looking to take an early lead as juggernaut in the market.