Contex Scanning Technology and Z Corporation Announce Merger

Contex Scanning Technology (Denmark) and Z Corporation (MA, USA) has announced that the companies will merge to create a global leader in colour scanning and 3D printing solutions for engineering markets, including CAD, GIS and Architecture, Engineering and Construction (AEC). The transaction is expected to close in the third quarter of 2005. Financial terms were not disclosed.

The combined company will have annual revenue in excess of US$ 100 million (€ 84 million), distribution in more than 80 countries, and more than 400 employees.

Contex scanners digitally capture documents, drawings and other 2D input in order to view, edit, archive, convert, file or print the output data. Z Corporation markets fast, low cost, and full-colour 3D printers – machines that produce physical prototypes of electronic product designs much like conventional printers produce paper output of electronic documents.

Marina Hatsopoulos, Z Corporation’s founding CEO, will accept a seat on the Contex board of directors and join former Z Corporation chairman Walter Bornhorst as an investor in Contex. Tom Clay will remain president of Z Corporation, a Contex subsidiary that will operate independently retaining its company name, brand, R&D infrastructure, and sales channel.