Acquisitions (Tables)

9 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Shown below is the preliminary purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:


(in thousands)
Current assets, including cash acquired of $148			$	835
Intangible assets:
Trade names	$	1,487
Product technology	2,231
Customer relationships	347
Total intangible assets			4,065
Goodwill			6,878
Other assets			475
Liabilities:
Accounts payable and accrued liabilities	$	794
Long term liabilities	293
Total liabilities			1,087
Net assets acquired			$	11,166

Shown below is the final purchase price allocation, which summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:


(in thousands)
Current assets, including cash acquired of $243			$	301
Intangible assets:
In-process research and development	$	4,989
Trade name	3,930
Total intangible assets			8,919
Goodwill			17,090
Other assets			765
Liabilities:
Accounts payable and accrued liabilities	$	364
Deferred tax liability	845
Total liabilities			1,209
Net assets acquired			$	25,866

The table below reflects the fair value of both the consideration transferred and the RNCI attributable to this acquisition:


(in thousands)
Cash paid at acquisition	$	34,098
Deferred cash consideration	3,628
Estimated fair value of RNCI	1,559
Post-closing net working capital adjustment	149
Total fair value of consideration transferred	$	39,434

Shown below is the final purchase price allocation, summarizing the fair values of the assets acquired and liabilities assumed at the date of acquisition:


(in thousands)
Current assets, including cash acquired of $125			$	1,407
Intangible assets:
Product technology	$	20,770
Trade name	5,802
Total intangible assets			26,572
Goodwill			17,618
Other assets			705
Liabilities:
Accounts payable and accrued liabilities	$	332
Deferred revenue	70
Deferred tax liability	6,466
Total liabilities			6,868
Net assets acquired			$	39,434

Shown below is the final purchase price allocation, summarizing the fair values of the assets acquired and liabilities assumed, as determined at the date of acquisition in accordance with valuation methodologies described in ASC 820:


(in thousands)
Current assets			$	661
Intangible assets:
Product technology	$	15,940
Trade name	5,580
Total intangible assets			21,520
Goodwill			17,430
Other assets			68
Liabilities:
Accounts payable and accrued liabilities	$	229
Deferred revenue	410
Total liabilities			639
Net assets acquired			$	39,040

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table presents the finite-lived intangible assets acquired and their respective estimated useful lives:


			Useful Life
Trade names			5
Product technology			15
Customer relationships			10

Schedule of Acquisition, Pro Forma Information

The following unaudited pro forma financial information summarizes the combined results of the Company and Wematter as if the acquisition had occurred on January 1, 2022. The pro forma results have been prepared for comparative purposes only, and do not necessarily represent what the results of operations would have been had the acquisition been completed on January 1, 2022. In addition, these pro forma results are not intended to be a projection of future operating results and do not reflect synergies that might be achieved.

The unaudited pro forma financial information includes adjustments for the pro forma impact of our preliminary purchase price allocation, including the amortization for newly acquired intangible assets, the impact of transaction costs, and the alignment of accounting policies. Transaction costs have been included in the pro forma results for the periods ended September 30, 2022, consistent with the pro forma assumption that the acquisition occurred on January 1, 2022. Pro forma revenue information has not been presented, as pre-acquisition revenue reported by Wematter was not material and, accordingly, the impact on our reported consolidated revenue also would not have been material. Pro forma net loss is not presented in the table below for the three months ended September 30, 2023 because Wematter's results are reflected in 3D Systems consolidated numbers for the full period.


	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2022		2023		2022
Net (loss) income attributable to 3D Systems Corporation	$	(38,407)	$	(71,076)	$	(100,185)