Oqton’s unique cloud-based, AI-based manufacturing operating system accelerates deployment and automation of digital manufacturing in production environments to improve efficiency and reduce costs 3DXpert Â®, 3D SprintÂ®, GeomagicÂ® and Amphyon â¢ simulation software from Additive Works to the entire additives industry. The combination enables customers to accelerate the adoption and productivity of additive manufacturing in existing production environments. at 8:00 a.m. Eastern Daylight Time
ROCK HILL, SC and GHENT, Belgium, September 08, 2021 (GLOBE NEWSWIRE) – 3D Systems (NYSE: DDD) is pleased to announce today an agreement to acquire Oqton, a leading software company in the creation of a new generation of intelligent, cloud-based manufacturing operating system (MOS) platform. This cutting-edge platform is designed for flexible production environments that increasingly use a range of advanced manufacturing and automation technologies, including additive manufacturing (AM) solutions, in their workflows. Cloud-based solution leverages Industrial Internet of Things (IIOT), artificial intelligence (AI) and machine learning technologies to provide customers with a new and powerful way to automate their workflows manufacturing, evolve their operations and improve their competitive position. Using these tools with an agile platform will enable rapid adoption of even the most difficult workflows, such as those in dentistry, healthcare, biotechnology, aerospace and the automobile.
âCustomers in our industrial and healthcare segments are accelerating the adoption of additive manufacturing in production environments,â said Dr. Jeffrey Graves, president and CEO of 3D Systems. âThey increasingly identified the need for a manufacturing software platform that could easily and intelligently integrate not only the printers themselves, but all digital production systems and key business software to optimize the entire workflow, from raw material to finished and inspected components. The system must be flexible enough to not only adapt to today’s manufacturing technologies, but also be easily adaptable to future platform changes. The Oqton MOS responds to this market need by seamlessly leveraging business information and data into the customer’s current ERP, MES, PLM and CRM systems, as well as the full suite of operations and software from workshop manufacturing. The use of APIs to facilitate the linkage between these systems is a distinctive attribute of the Oqton MOS. This allows customers to use their choice of manufacturing and automation equipment on the shop floor to meet the unique needs of their plant. Oqton’s cloud-based MOS solution, with its built-in artificial intelligence and machine learning capabilities, then optimizes and automates these elements of manufacturing in a way that is not available today. This solution lowers the barrier to adopting AM in a transformative way – through solution integration AND workflow optimization. “
The availability of the Oqton MOS addresses a critical industry need by optimizing customer use of 3D printing and other advanced manufacturing technologies, including robotic welding, machining, finishing and inspection, in complete production environments. To meet this need as effectively as possible, Oqton will operate as an independent organization and solutions platform within 3D Systems with data privacy and security protocols ensured by third-party verification.
With the acquisition of Oqton and the commitment to continue to focus on the transformation and optimization of digital manufacturing systems, 3D Systems will also extend availability to the entire additive manufacturing industry and to the customers of its most advanced software platforms – 3DXpertÂ®, 3D SprintÂ®, its Geomagic Â® and Amphyon â¢ from Additive Works – as optional add-ons to the Oqton MOS platform. With 3D Systems’ continued investment in these market-leading additive manufacturing tools, the company believes they can play a pivotal role in advancing the use of AM in all markets, to the benefit of all stakeholders in this rapidly changing industry.
Commenting on the transaction, Dr Ben Schrauwen, CEO and Co-Founder of Oqton, said: Companies are accelerating adoption of additive manufacturing in production environments. At the same time, we bring our deep expertise in artificial intelligence, automation, robotics and machine learning, which will help our customers and partners to scale and connect different manufacturing processes in a wide range of healthcare verticals. , biotechnology and industry. . “
Based on available data, it is estimated that spending on smart manufacturing stands at $ 1.5 billion today, with an expected expansion to $ 6 billion by 2025. The purchase price of this transaction amounted to $ 180 million, comprising cash and shares of 3D Systems. With the addition of Oqton, 3D Systems expects software revenue to exceed $ 100 million by the end of 2025. The transaction is expected to close in the fourth quarter of 2021 after regulatory approvals. required.
3D Systems Acquisition of Oqton Conference Call Details Executives of 3D Systems and Oqton will provide further details during a conference call Thursday, September 9, 2021 at 8:00 am Eastern Daylight Time. Interested participants can join the call by dialing 201-689-8345 or by joining the webcast through the Investor Relations page on the 3D Systems website.
Forward-looking statements Certain statements made in this press release that are not statements of historical or current fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and risks. ” other factors that may cause the actual results, performance or achievements of the company to differ materially from historical results or from any future results or projections expressed or implied by such forward-looking statements, including the ability of Oqton and of 3D Systems to complete the transaction as planned. In many cases, forward-looking statements can be identified by words such as “believes”, “believes”, “expects”, “may”, “will”, “believes”, “intends”, âPlansâ or âplansâ or the negative of these terms or other comparable terminology. Forward-looking statements are based on the beliefs, assumptions and current expectations of management and may include comments on the opinions and expectations of the company regarding future events and trends affecting its business and are necessarily subject to uncertainties, including many are beyond the control of the company. The factors described under the headings “Forward-looking Statements” and “Risk Factors” in the Company’s periodic filings with the Securities and Exchange Commission, as well as other factors, could cause actual results to differ materially from those. reflected or predicted in forward-looking statements. staring statements. While management believes that the expectations reflected in forward-looking statements are reasonable, forward-looking statements are not, and should not be construed as, guarantees of future performance or results, nor will they necessarily turn out to be accurate indications of times at which such performance or results will be achieved. The forward-looking statements included are made only as of the date of the statement. 3D Systems assumes no obligation to update or review any forward-looking statements made by or on behalf of management, whether as a result of future developments, subsequent events or circumstances or otherwise.
About 3D Systems Over 30 years ago, 3D Systems brought innovation in 3D printing to the manufacturing industry. Today, as a leading additive manufacturing solutions partner, we bring innovation, performance and reliability to every interaction – enabling our customers to create products and business models never before possible. Through our unique offering of hardware, software, materials and services, each application-specific solution is powered by the expertise of our application engineers who work with customers to transform the way they deliver their products and services. 3D Systems solutions address a variety of advanced applications in healthcare and industrial markets such as medical and dental, aerospace and defense, automotive and durable goods. More information about the company is available at www.3dsystems.com.
About Oqton Founded in 2017, Oqton is a global SaaS company founded by manufacturing and AI experts who combine years of industry experience to deliver increased productivity. The factories of the future will be powered by humans and machines working together seamlessly. The Oqton MOS platform, launched in 2017, enables this and provides scalable, sustainable and efficient manufacturing for all business sizes. Our cloud-agnostic manufacturing operating system automates end-to-end workflow through and beyond the production floor. Specific verticals can benefit greatly from Oqton, including: healthcare, industrial and additive manufacturing, and robotic welding. Founded in San Francisco, Oqton is headquartered in Ghent, Belgium, with more than 90 employees worldwide (two-thirds of which are dedicated to research and development) and offices in the United States, China and Denmark. More information about the company is available at www.oqton.com, follow us on LinkedIn (Oqton).