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Note 18 - Subsequent Events
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 18 – Subsequent Events

 

On January 22, 2021, the Company acquired 3D Hubs, Inc. (“3D Hubs”), for $294.4 million, consisting of $127.7 million in cash and 863,995 shares of the Company's common stock valued at $166.7 million on the date of close.  Up to an additional $52.8 million of contingent consideration is payable subject to the satisfaction of performance-based targets during fiscal year 2021 and fiscal year 2022 after closing, consisting of up to $25.0 million in cash and up to 143,983 shares of the Company's common stock valued at $27.8 million on the date of close. 3D Hubs is a leading online manufacturing platform that provides customers with on-demand access to a global network of approximately 240 premium manufacturing partners. The completion of this transaction creates the world’s most comprehensive digital manufacturing offer for custom parts. The acquisition will be accounted for under the acquisition method of accounting in accordance with ASC 805.

 

On February 3, 2021, the Company announced the launch of its new digital quoting and design analysis platform to its U.S.-based customers, following a launch in the fourth quarter of 2020 to its European-based users. With the launch, three of the Company's services—injection molding, CNC machining, and 3D printing—are now united in a single platform for a much easier quoting and ordering experience. The advanced e-commerce system is built to accelerate online quoting, design analysis and ordering.