3D Systems Corp. (DDD) took another major leap in marketing its products this time by partnering with Konica Minolta Business Solutions U.S. Inc., a leader in enterprise content management, technology optimization and cloud services. No financial details of the deal were disclosed. 3D Systems intends to start the distribution of a couple of products initially and later distribute the entire 3D printing product portfolio.
3D Systems – a leading provider of 3D printing design-to-manufacturing solutions – has been pursuing strategic acquisitions and forming partnerships to diversify its offerings and expand its operating markets. In the last six months, 3D Systems has collaborated with Hasbro (HAS), The Hershey Co. (HSY) and Staples Inc. (SPLS) in its approach to introduce its 3D printing capabilities to various industries. Last month, the company announced a partnership with ScanSource, Inc. (SCSC) to support the latter’s new technology team which is primarily focused on the sale and support of 3D printing solutions.
This alliance is yet another strategic move by 3D Systems to enhance its presence. Some of the products that Konica Minolta will be marketing will immediately include 3D Systems’ ProJet(R) 3500 Series Professional 3D Printer (primarily used in rapid manufacturing, functional testing, design communication, rapid tooling) and ProJet(R) 660 Professional 3D Printer (used for printing full-color, photo-realistic models for product design, prototypes, assemblies and color concept models).
Konica Minolta is a leading player in the enterprise content management, technology optimization and cloud services market with offerings that facilitate organizations to enhance their marketing skills, manage technology costs and share information to boost productivity. 3D Systems intends to utilize Konica Minolta’s network of dealers and authorized resellers, as well as its direct sales channels across the U.S. for distributing its products, thereby making the latter the first original equipment manufacturer to sell, support and service 3D printing products through the traditional printer and office equipment channel in the nation.
Konica Minolta plans to make industries such as manufacturing/industrial, healthcare and education applications its hub for 3D printer distribution. Further, through this partnership, Konica Minolta will make an entry into the highly lucrative 3D printing market and provide its customers with additive manufacturing solutions.
Given the rapid adoption of 3D printing technology across various industries, technology and solutions is witnessing increased demand from broad end users, therefore, 3D Systems is leaving no stone unturned to market and sell its products.
3D Systems currently carries a Zacks Rank #3 (Hold).Read the Full Research Report on HSY
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