After chocolates, 3D Systems (DDD - Free Report) is now planning to transform the play experience for children through its recently announced collaboration with Hasbro, Inc. (HAS - Free Report) . On Feb 14, both 3D Systems and Hasbro planned to join forces to explore and develop innovative play experiences for kids through 3D printing. Following this news, shares of 3D Systems surged 4.5% on the same day to close at $73.83.
Hasbro is a well-known play company committed to drive the fundamental need to play in children and families through the creative expression of the company's world class brand portfolio.
This joint-development agreement will see two leaders in their specific markets coming together. Through this association, Hasbro intends to leverage its renowned brands and retail presence with 3DS's powerful 3D printing portfolio to redefine play. These companies plan to comprehensively co-develop and commercialize innovative play printers and platforms by the end of 2014.
3D Systems is a leading provider of 3D printing centric design-to-manufacturing solutions including 3D printers, print materials and cloud-sourced on-demand custom parts for professionals and consumers alike, in materials like plastics, metals, ceramics and edibles. Its 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.
3D Systems’ approach to expand its business through its strategic growth initiative has been quite impressive. Driven by this initiative, in the last-reported third quarter of 2013, the company clocked organic growth of 30% year over year and overall revenue growth of 50% year over year. Prior to this deal, in Jan 2014, 3D Systems and The Hershey Company (HSY - Free Report) had announced that both companies intend to join forces to explore and develop innovative 3D-printed chocolates as well as non-chocolate products.
3D Systems currently carries a Zacks Rank #3 (Hold). However, a better-ranked stock in the same industry is Hewlett-Packard Company (HPQ - Free Report) , carrying a Zacks Rank #2 (Buy).