|3 Months Ended|
Mar. 31, 2022
|Subsequent Events [Abstract]|
Note 18. Subsequent Events
On April 4, 2022, the Company acquired Teton Simulation Software (“Teton”) through a statutory merger in exchange for total consideration of $7.7 million, payable in a combination of cash and equity shares, of which $3.0 million is contingent on Teton meeting certain milestones in the future. Teton is a software company whose SmartSlice technology automates validation and optimizes part performance for additive manufacturing application. The Company will integrate Teton's technology with its printing software solution, Eiger, as a subscription add-on that will offer manufacturing customers a streamlined workflow spanning part design, testing, optimization, validation and printing at the point of need, all on a single, cloud-based platform. The Company is currently in the process of finalizing the accounting for this transaction and expect to complete its preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed by the end of the second quarter of 2022.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef