3D Systems Corporation (NYSE:DDD), a pioneer in 3D printing, announced today that it has acquired American Precision Prototyping (APP) and sister company American Precision Machining (APM) in a move to drive adoption of 3DS’ comprehensive design-to-manufacturing solutions.
3D Systems’ comprehensive range of 3D printers is the industry’s benchmark for production-grade manufacturing in aerospace, automotive, patient specific medical device and a variety of consumer, electronic and fashion accessories.
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24-years combined expertise
Both American Precision Prototyping and American Precision Machining are expert providers of rapid prototyping and advanced manufacturing, product development and engineering services. Headquartered in Tulsa, Oklahoma, both the companies bring over 24 years of combined advanced prototyping and manufacturing service bureau experience to 3DS with significant aerospace presence.
APP and APM’s production capabilities include a strong regional infrastructure and long-term, key relationships with companies in the sector.
Ziad Abou, Vice President and General Manager, Quickparts for 3DS said in a statement: “APP and APM bring a wealth of experience and bench strength in both advanced manufacturing and the aerospace industry that is highly complementary to our offerings”. He expressed confidence that the acquisition would further enhance 3DS’ North American capabilities and expertise.
3D Systems – Over 45 acquisitions in 4 years
Earlier this month, 3D Systems acquired Laser Reproductions, which has over three decades of experience in advanced manufacturing services bureau. The 3D printing pioneer has been on an acquisition spree. Earlier this year, the company bought Medical Modeling, a provider of 3D printed imaging products and implants. The company also partnered with Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) for Project Ara, a modular smartphone that will let users customize their device.
In May, the Rock Hill, South Carolina-based company raised about $317 million in a secondary offering and analysts believe a large chunk of that sum will be used on strategic acquisitions. 3D Systems’ cash pile has grown to $620 million after the recent offering. The company has made over 45 acquisitions in the past four years totaling $520 million.
Exuding confidence over today’s announcement, Jason Dickman, President of APP said: “3D Systems is, bar none, the recognized leader in advanced manufacturing with an exceptional track record in providing the highest quality parts services globally. We have been a long-standing customer of 3DS’ SLA and SLS printers, materials and software, and we couldn’t be more excited to join the team as it positions us to provide unparalleled parts services to our customers far into the future.”