Stratasys set to acquire Solid Concepts, Harvest Technologies

3D printing and additive manufacturing solutions provider Stratasys (Minneapolis, MN) has entered into definitive agreements to acquire Solid Concepts (Valencia, CA) and Harvest Technologies (Belton, TX), both of which also provide additive manufacturing services. The transactions are expected to be completed early in the upcoming third quarter, subject to customary closing conditions, and are expected to be accretive to the company's Non-GAAP earnings per share within the first 12 months after closing.

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Upon completion of the transactions, Stratasys will integrate the two companies with RedEye, its existing digital manufacturing service business, to establish one additive manufacturing services business unit. Joe Allison, president of Solid Concepts, will join the Stratasys management team and lead the combined parts business, which will be supported by the management teams of Solid Concepts, Harvest Technologies, and RedEye.

Stratasys will acquire Solid Concepts for total consideration of up to $295 million, including a payment on closing of $172 million (or, if settled in cash, part on closing and part six months after closing), deferred payments of $60 million, and up to $63 million in retention-related payments. The acquisition of Harvest Technologies, however, is for an undisclosed amount, including retention-related payments, payable in cash, shares, or a combination thereof.

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