The much anticipated merger between two of the 3D printing industry’s biggest players got the green light today when Stratasys Inc. (NASDAQ: SSYS) and Objet Ltd. announced the completion of the deal. Together these companies will forge ahead as a behomoth in the 3D printing sector with a strong product offering for prototyping and production applications, which includes the Fused Deposition Modelling (FDM) process; the inkjet-based PolyJet process; and the Solidscape Drop-on-Demand (“DoD”) thermoplastic ink-jetting technology. In all, the processes combine to form an impressive portfolio of 3D printing solutions for parts with a wide range of capabilities and materials.
The combined company will trade on the NASDAQ stock exchange as Stratasys Ltd. (“Stratasys”) under the symbol SSYS as of today and the market capitalization of the new company is in the region of $3.0 billion based on the closing price of Stratasys, Inc. stock on November 30, 2012.
Stratasys Ltd will work with more than 260 channel partners around the world and can leverage the extensive geographic reach of its marketing and sales organization to serve customers and grow awareness of 3D printing for rapid prototyping and production. In addition, Stratasys will have a world-class R&D team focused on developing new consumables and systems across its technology spectrum.
David Reis, chief executive officer of Stratasys, stated, “We are excited to move forward as one company and deliver the benefits this combination creates for our shareholders, our customers and our employees. Stratasys is now uniquely positioned to offer a comprehensive portfolio of innovative products and technologies, and we have the scale, team and financial strength to achieve our goals.”
“We are pleased to announce the successful completion of this merger,” said Scott Crump, full-time executive chairman of Stratasys. “With our breadth of products, commitment to innovation and outstanding, service-focused team, we will be well positioned to address customer needs across the entire 3D design and manufacturing spectrum. The combined company has a deep well of talent and a strong board and management team to lead us successfully as we continue to pave a new way forward for the 3D printing industry.”