3D Systems ( DDD - Snapshot Report ) recently announced that it has an agreement to acquire Geomagic, Inc., a leading global provider of 3D authoring solutions including design, sculpt and scan software tools.

These tools are specifically designed to create 3D content and inspect products across the entire design and manufacturing process. This acquisition is subject to customary closing conditions and is expected to close during the first quarter of 2013. Terms of the deal were not disclosed.

The acquisition of Geomagic is a strategic move by 3D systems as it will strengthen 3D’s authoring platform and position favorably for accelerated growth in the fast-growing, 3D content-to-print space. The acquisition will also bring in complementary products and technology while increasing the company's reseller coverage globally. The acquisition is expected to be accretive to earnings in the first year itself.

The products of Geomagic perfectly complement the existing product lines of 3D systems. Both the companies have perfect synergies in product development, channel coverage and marketing along with greater efficiencies. These synergies are expected to bring in more cost effective and user-friendly solutions useful to customers, thereby presenting attractive long-term shareholder value.

3D Systems is a leading global provider of 3D content-to-print solutions including 3D printers, print materials and on-demand custom parts services for professionals and consumers. The company also provides CAD modeling, reverse engineering and inspection software tools and consumer 3D printers, apps and services.

3D Systems currently has a short-term Zacks #1 Rank (Strong Buy). Dassult Systems ( DASTY ) , 3D’s close competitor has a short-term Zacks #4 Rank (Sell).