Why 3D Systems Stock Is Soaring Today
3D Systems (NYSE: DDD) stock is making big gains in Thursday's trading. The company's share price was up 15.4% as of 11:15 a.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were both down 0.1% in the same time frame.
3D Systems stock is gaining ground following an announcement that the company will be selling its Geomagic software to Hexagon. 3D Systems will be paid $123 million for the software portfolio, and the deal is expected to close in the first half of next year.
3D Systems' Geomagic software portfolio consists of Design X, Control X, Freeform, Wrap, and Geomagic for SolidWorks, and will be integrated into Hexagon's manufacturing intelligence division following the completion of the sale. Investors seem to be quite happy with the purchase price 3D Systems is getting in the deal.
Source Fool.com
