Published July 08, 2013
3D Systems (DDD) struck an exclusive partnership on Monday with Enventys to give entrepreneurs and inventors access to three-dimensional printing technologies.
Terms were not disclosed, but the deal marks a win for 3D Systems, a company with a market cap of $4.4 billion, as the burgeoning three-dimensional printing market heats up and more competition comes on line.
Charlotte, N.C.-based Enventys, which supports new products made by inventors and entrepreneurs, said it will use 3D Systems’ entire fleet of end-to-end printers across its programs and services, including Edison Nation, Everyday Edisons and Edison Nation Medical.
3D Systems’ chief executive, Avi Reichental, said the deal is at the heart of its effort to democratize access to 3D printing technology for inventors and entrepreneurs.
"We are thrilled to partner with 3D Systems and deploy their comprehensive portfolio of 3D printers across our entire Edison Nation product development ecosystem," Enventys CEO Louis Foreman said.
Shares of 3D Systems were up about 1% to $48.06 in recent trade. They are up about 263% since their June 2011 initial public offering.