3D Systems, DTM to Merge
VALENCIA, Calif., April 5 – 3D Systems Corp. and DTM Corp., two companies in the solid imaging industry, have signed a definitive merger agreement under which 3D Systems will buy all of the outstanding shares of common stock of DTM for $5.80 per share. 3D Systems hopes to extend its global reach by combining DTM Corp.'s complementary products and customers with its own. The transaction will value DTM at about $45 million (before transaction costs).
As part of the agreement, 3D Systems will commence a tender offer for any and all outstanding shares of DTM common stock no later than five business days after receiving financing commitments in an amount sufficient to fund the acquisition and provide for 3D's ongoing working capital needs. 3D Systems anticipates that it will arrange for the financing commitments on or prior to May 3, and that the tender offer would close in June of this year.
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