updated 06:35 pm EDT, Wed June 19, 2013
$604 million dollar merger deal expected to close in fall
Fabrication powerhouse Stratasys and startup 3D printer manufacturer MakerBot have merged. Under the terms of the deal, the pair of companies are merging in a stock-for-stock transaction worth $604 million, with two-thirds payable immediately as stock, with the remaining third depending on MakerBot performance following the merger. The deal is expected to close in the fall.
The combination of these two industry leaders 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. Upon completion of the transaction, MakerBot will operate as a separate subsidiary of Stratasys, maintaining its own identity and products. Bre Pettis, CEO and co-founder of MakerBot, will continue to lead the company.
"MakerBot's 3D printers are rapidly being adopted by CAD-trained designers and engineers," said David Reis, Stratasys CEO. "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," added Reis.
"The last couple of years have been incredibly inspiring and exciting for us," noted Pettis. "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."