Z Corp., a maker of 3D printers, has agreed to be acquired by Contex Scanning Technology Inc., a Danish maker of color digital scanners that is wholly owned by European buyout firm EQT Partners.

The deal's terms were not disclosed. Together, Z Corp. and Contex Scanning will generate more than $100 million in annual revenue and employ over 400 people.

Z Corp., based in Burlington, Mass., said its 115 employees will remain with the company after the deal's closing, expected in August. The firm expects to generate around $30 million in revenue this year.

Marina Hatsopoulos, Z Corp.'s founder and chief executive officer, said the company will retain its brand and remain headquartered in Burlington. She has accepted an ownership stake in Contex Scanning as well as a seat on its board of directors.

Hatsopoulos' husband, fellow Z Corp. founder Walter Bornhorst, is also a Contex Scanning investor.

"They (Contex Scanning) know how to take a product in an emerging niche market and bring it to a major market," said Hatsopoulos, noting that Z Corp. was approached with the deal. "For us ... this is very much about continuing to invest in technology and growth."

Z Corp.'s 3D printers are used by more than 1,000 customers, including major product manufacturers like Sony Corp., Fisher-Price, Adidas, Eastman Kodak Co., NASA, Lockheed Martin, and Ford Motor Co. The company's core technology was spawned in the research laboratories at the Massachusetts Institute of Technology.

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