History
3D Systems was founded in Valencia, California, by Chuck Hull,[6] the inventor and patent-holder of the first stereolithography (SLA) rapid prototyping system. Prior to Hull's introduction of SLA rapid prototyping, concept models required extensive time and money to produce. The innovation of SLA reduced these resource expenditures while increasing the quality and accuracy of the resulting model. Early SLA systems were complex and costly, and required extensive redesigns before achieving commercial viability. Primary issues concerned hydrodynamic and chemical complications. In 1996, the introduction of solid-state lasers permitted Hull and his team to reformulate their materials. Engineers in transportation, healthcare, and consumer products helped fuel early phases of 3D Systems' rapid prototyping research and development. These industries remain key followers of 3D Systems' technology.
In late 2001, 3D Systems began an acquisitions program that expanded the company's technology through ownership of software, materials, printers, and printable content, as well as access to the skills of engineers and designers. The rate of 3D Systems' acquisitions (16 in 2011) raised questions with regard to the task facing the company's management team. Other onlookers pointed to the encompassing scope of the acquisitions as indicating calculated steps by 3D Systems to consolidate the 3D printing industry under one roof and logo, and to become capable of servicing each link in the scan/create-to-print chain.[7]
In 2003, Hull was succeeded by Avi Reichental.[8] Both Reichental and Hull are listed among the top twenty most influential people in rapid technologies by TCT Magazine.[9] Hull remains an active member of 3D Systems' board and serves as the company's Chief Technology Officer and Executive Vice President.[10] In 2005, 3D Systems relocated its headquarters to Rock Hill, South Carolina, citing a favorable business climate, a sustained lower cost of doing business, and significant investment and tax benefits as reasons for the move.[11] In May 2011, 3D Systems transferred from Nasdaq (TDSC) to the New York Stock Exchange (DDD).
In January 2012 3D Systems acquired Z Corporation for US$137 million.[12][13] That same year a Gray Wolf Report predicted 3D Systems' rate of growth to be unsustainable, pointing to inflated impressions from acquisitions as a corporate misstatement of organic growth. 3D Systems responded to this article on November 19, 2012, claiming it to "contain materially false statements and erroneous conclusions that we believe defamed the company and its reputation and resulted in losses to our shareholders".[14]
In January 2014 it was announced that 3D Systems had acquired the Burbank, CA-based collectibles company Gentle Giant Studios, which designs, develops, and manufactures three-dimensional representations of characters from franchises including Marvel, Disney, AMC’s The Walking Dead, Avatar, Harry Potter and Star Wars.[15] In July 2014, 3D Systems announced the acquisition of Israeli medical imaging company Simbionix for US$120000000.[16] In September 2014, 3D Systems acquired the Leuven, Belgium-based LayerWise, a principal provider of direct metal 3D printing and manufacturing services spun off from KU Leuven.[17] The terms of the acquisition were not disclosed by either company.[18]
In January 2015, 3D Systems acquired the 3D printer manufacturer botObjects, the first company to commercialize a full-color printer using the fused filament fabrication technique.[19] botObjects was founded by Martin Warner (CEO) and Mike Duma (CTO).[20] botObjects' proprietary 5-color CMYKW cartridge system[21] was claimed to be able to generate color combinations and gradients by mixing primary printing colors.[20] There was some skepticism about botObjects' claims.[22]
In April 2015, 3D Systems announced its acquisition of the Chinese Easyway Group, creating 3D Systems China. Easyway is a Chinese 3D printing sales and service provider, with key operations in Shanghai, Wuxi, Beijing, Guangdong, and Chongqing.[23]
In October 2015, Reichental stepped down as the president and CEO of 3D Systems, Inc. and was replaced on an interim basis by the company's chief legal officer Andrew Johnson.[24] Vyomesh Joshi (VJ) was appointed as president and CEO on April 4, 2016.[25] On May 14, 2020, the 3D Systems board named Jeff Graves as president and CEO, effective May 26. He remains the CEO as of February 17, 2023.[26]
