General Electric Co. has announced the execution of an agreement to acquire a 75 percent stake in Concept Laser, a German manufacturer of 3D metal printing machines, allowing it to take full ownership over the next several years.

GE has also concluded its tender offer for the shares of Arcam AB, purchasing 76.15 percent of the Swedish 3D printing company. Now, with controlling shares of two important producers of additive manufacturing systems under its belt, GE has pledged to invest significant funds into the advancement of 3D printing technology, improving the portfolios of both companies.

“GE has made significant long-term commitments to both Arcam and Concept Laser to enhance their complementary technologies,” said Mohammad Ehteshami, vice president for additive integration at GE Additive. “Both companies are important players in the growing additive manufacturing movement, and are foundational to GE’s journey into this revolutionary manufacturing space.”