Just last week Stratasys set the newswires alight when it announced it was acquiring software and content company GrabCAD. Just a week later and a statement from Stratasys confirms that the deal is complete.
As stated previously, GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group and is expected to enable the provision of enhanced collaboration tools and improved accessibility relating to 3D CAD content to Stratasys customers.
The $100m deal saw Stratasys complete the deal in an all cash transaction but it is not expected to contribute to revenue in 2014. According to the (boring bit of) Stratasys statement, costs associated with the acquisition are expected to impact Stratasys’ fourth quarter 2014 earnings by $0.03 to $0.05 per share.
David Reis, chief executive officer of Stratasys, stated, “We are pleased to have completed this transaction and welcome GrabCAD’s industry leading team of software professionals to the Stratasys family. Together with GrabCAD, we believe that we will accelerate innovation and provide increased value to a growing universe of customers seeking to utilize 3D printing solutions. The potential within our 3D ecosystem is very exciting and we look forward to continuing to drive value for our shareholders through the execution of our strategy.”
