The companies now expect to generate US$1.1 billion revenue in 2025. The transaction is expected to be completed in Q4 2023.
“We believe this is a landmark moment for the additive manufacturing industry,” said Ric Fulop, CEO of Desktop Metal. “The combination of these two great companies marks a turning point in driving the next phase of additive manufacturing for mass production. We are excited to complement our portfolio of production metal, sand, ceramic and dental 3D printing solutions with Stratasys’ polymer offerings.”
“Today is an important day in Stratasys’ evolution,” said D. Yoav Zeif, CEO of Stratasys. “The combination with Desktop Metal will accelerate our growth trajectory by uniting two leaders to create a premier global provider of industrial additive manufacturing solutions.”
Plans are for Dr Zeif to be the CEO of the merged company, with Fulop as chairman of the board. The combined company’s board will comprise 11 members, five of whom will be selected by Stratasys, and five of whom will be selected by Desktop Metal, plus Dr Zeif. Stratasys chairman Dov Ofer will serve as lead independent director of the combined company, the companies said.
