Stratasys and MakerBot to merge
Upon completion, MakerBot will operate as a separate subsidiary of Stratasys, but the companies will jointly develop and implement 3D printing strategies.
Minneapolis, MN and Rehovot, Israel - Stratasys Ltd., a leader in 3D printing and additive manufacturing, and MakerBot, a leader in desktop 3D printing, have signed a definitive merger agreement whereby privately held MakerBot has agreed to merge with a subsidiary of Stratasys in a stock-for-stock transaction. MakerBot, founded in 2009, reportedly helped develop the desktop 3D printing market and has built the largest installed base of 3D printers in the category by making them highly accessible. The company has sold more than 22,000 3D printers since 2009.
The combination of these two companies is expected to drive faster adoption of 3D printing for multiple applications and industries, as desktop 3D printers are becoming a mainstream tool across many market segments. MakerBot will operate as a separate subsidiary of Stratasys, maintaining its own identity, products, and go-to-market strategy.
Upon completion of the merger, Stratasys and MakerBot will jointly develop and implement strategies for building on their complementary strengths, intellectual property, technical know-how, and other unique assets and capabilities. The merger is expected to be completed during the third quarter of 2013, subject to regulatory approvals and other conditions customary for such transactions.
"Bre Pettis and his team at MakerBot have built the strongest brand in the desktop 3D printer category by delivering an exceptional user experience. MakerBot has impressive products, and we believe that the company's strategy of making 3D printing accessible and affordable will continue to drive adoption. I am looking forward to working with Bre," said David Reis, Stratasys CEO.
Bre Pettis noted, "We have an aggressive model for growth, and partnering with Stratasys will allow us to supercharge our mission to empower individuals to make things using a MakerBot, and allow us to bring 3D technology to more people. I am excited about the opportunities this combination will bring to our current and future customers."
Desktop 3D printer usage among design and engineering professionals is growing rapidly. Stratasys and MakerBot estimate that between 35,000 to 40,000 desktop 3D printers were sold in 2012, a number estimated to double in 2013.
Stratasys Ltd. is the corporate entity formed in 2012 by the merger of 3D printing companies Stratasys Inc. and Objet Ltd., based in Minneapolis, MN. and Rehovot, Israel. The company manufactures 3D printers and materials for prototyping and production. Systems include 3D printers for idea development, a range of systems for prototyping, and large production systems for direct digital manufacturing. Stratasys has more than 1100 employees, holds more than 500 granted or pending additive manufacturing patents globally, and has received more than 20 awards for its technology and leadership.
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