VIDAR Systems Corporation to be Acquired by 3D Systems (TDSC) for $137 Million Cash
11/21/2011 9:42:12 AM
HERNDON, Va., Nov. 21, 2011 /PRNewswire/ -- VIDAR Systems Corporation, a leader in medical imaging technology, today announced that it will be acquired by 3D Systems Corporation (NYSE: DDD). The news is part of a wider announcement in which the Contex Group, a subsidiary of Ratos AB, signed an agreement to sell its subsidiaries VIDAR Systems Corporation and Z Corporation to 3D Systems for USD 137m in cash. The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close promptly after those approvals are obtained. It is hoped that the closing can occur by the end of 2011 or early in 2012.
"By joining 3D Systems, we expect to continue to deliver high quality medical imaging products and expand our core imaging business using 3D's medical technologies," said VIDAR Systems' Global President, Joseph LaPorta. "Our vision has always been to expand our core technology into areas that were not previously accessible to VIDAR. Together with 3D's strong footprint into healthcare medical models, surgical guides, hearing aides, dental applications and implantable devices VIDAR expects to develop applications and products that enhance our current offering as well as to move into more elaborate healthcare initiatives."
"We believe that the strong strategic fit between our businesses, combined with expanded capabilities in product development, channel coverage, manufacturing and marketing, could present sizeable cost and revenue synergies that together offer significant long-term customer benefits and shareholder value," commented Abe Reichental, President and CEO of 3D Systems.
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 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.
VIDAR Systems Corporation, headquartered in Herndon, Va., has been in business for more than 26 years and is a global market leader in medical film digitizers, with more than 22,000 digitizers installed. VIDAR's extensive experience in the field of medical imaging technology and unmatched reputation for exceptional quality, reliability, and world-class customer service make it the choice of more than 100 solution providers worldwide. For additional information, visit www.vidar.com.
About 3D Systems
3D Systems is a leading provider of 3D content-to-print solutions including 3D printers, print materials and on-demand custom parts services for professionals and consumers alike. The company also provides creative content development, design productivity tools and curation services and downloads. Its expertly integrated solutions replace, displace and complement traditional methods and reduce the time and cost of designing new products by printing real parts directly from digital input. These solutions are used to rapidly design, communicate, prototype and produce functional parts, empowering its customers to create with confidence.
More information on the company is available at www.3DSystems.com.
To experience our entire range of 3D content-to-print products and services please visit www.printin3D.com, www.production3dprinters.com, www.toptobottomdental.com, www.quickparts.com, www.3Dproparts.com, www.alibre.com, www.bitsfrombytes.com, www.botmill.com, www.The3dStudio.com, www.freedomofcreation.com, www.sycode.com, blog.3dsystems.com, or via email at moreinfo@3Dsystems.com.
SOURCE VIDAR Systems Corporation