Stratasys & Objet In A Merger
update on 2012-05-12
Minneapolis, US & Rehovot, Israel: Stratasys and privately held Objet announced that the boards of directors of both companies have unanimously approved a definitive merger agreement under which the companies would combine in an all-stock transaction with a combined equity value of approximately US$1.4 billion, based upon the closing price of Stratasysí common stock on April 13, 2012. The transaction will position the combined company as a leader within the high-growth 3D printing and direct digital manufacturing industry.
The combined company, which will retain the Stratasys name and operate under the name Stratasys will have dual headquarters in Eden Prairie, Minnesota and Rehovot, Israel, the locations of Stratasysí and Objetís current headquarters, respectively, and will be registered in Israel.
The merger of Stratasys and Objet is expected to create a world class company offering a portfolio of 3D printing and direct digital manufacturing solutions. The combined company should be well positioned to provide customers with the right solution by offering systems that produce parts with a wide range of capabilities and materials.
The combined marketing and sales capabilities will provide extensive geographic reach, which should help grow customer awareness of the many opportunities to employ 3D printing and rapid prototyping techniques. Existing customers will benefit from a broader range of products that offer complementary functionality, which will create opportunities to cross-sell the product lines into the combined companyís installed base. In addition, the combined company expects to expand its access to new customers across multiple industries. With a significant increase in scale, the new Stratasys will seek to grow efficiently and faster through its combined organisation.