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Stratasys, open source MakerBot merge for $403M

Posted: 21 Jun 2013 ?? ?Print Version ?Bookmark and Share

Keywords:Stratasys? MakerBot? 3D printing? Replicator? merger?

Stratasys Ltd, a 3D printing and additive manufacturing firm, and MakerBot, a company specialising in desktop 3D printing and a proponent of the open source hardware/software movement, announced the signing of a definitive merger agreement in a stock-for-stock transaction.

MakerBot, founded in 2009, helped develop the desktop 3D printing market and has built the largest installed base of 3D printers in the category by making 3D printers highly accessible, the firm stated. The company has sold more than 22,000 3D printers since 2009. The combination of the firms 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. CEO and co-founder Bre Pettis will continue to lead the company.

Under the terms of the merger agreement, Stratasys will initially issue nearly 4.76 million shares in exchange for 100 per cent of the outstanding capital stock of MakerBot. The proposed merger has an initial value of $403 million based on Stratasys' closing stock price of $84.60 as of June 19, 2013.

Stratasys intends for MakerBot to operate as a separate subsidiary, preserving its existing brand, management. Together with Stratasys, MakerBot will continue to innovate, expand its product offering, provide attentive service to its users and make more 3D printing content available through Thingiverse.com.





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