3D Systems Corp. said Wednesday that it will acquire part of Xerox Corp.'s product design, engineering and chemistry group for $32.5 million in cash to expand its business.
3D Systems Corp., which makes 3-D printers, and Xerox, which provides business services and makes copier machines, have collaborated for over 10 years. Xerox produced 3D Systems' ProJet series of printers.
As part of the deal, 3D Systems will add 100 Xerox engineers and contractors to its research and development team. They will work in a separate area at Xerox's Wilsonville, Ore., work site.
The two companies expect the deal to close before the end of the year.
Shares of Rock Hill, S.C.-based 3D Systems rose 31 cents to $81.69 in late afternoon trading Wednesday. Shares of Norwalk, Conn.-based Xerox rose 23 cents, or 2 percent, to $11.72.