Stratasys has entered into definitive agreements to acquire two privately-held companies, Solid Concepts Inc and Harvest Technologies.
Solid Concepts, the manufacturer of the world's first 3D printed metal gun, provides custom manufacturing solutions via additive manufacturing, rapid prototyping, CNC machining, cast urethanes, injection moulding and tooling. It provides plastic and metal laser sintering (SLS & DMLS), fused deposition modelling (FDM), CNC, tooling and injection moulding allow for low to high volume production of metals directly from design data.
It serves a diverse customer base across a wide range of industries, including medical, aerospace, and industrial. It generated revenues of approximately $65 million in 2013.
Harvest Technologies uses direct metal laser sintering (DMLS), fused deposition modelling (FDM), and stereolithography (SL/SLA) machines to provide parts as well as prototypes. It is also an AS9100C/ISO 9001 certified supplier.
Industry pioneers
Under the terms of the definitive agreement with Solid Concepts, Stratasys will acquire Solid Concepts for a total consideration of up to US$295 million. It will acquire Harvest Technologies for an undisclosed amount.
"We are pleased to announce these strategic transactions, which will enable us to provide customers with a comprehensive offering that addresses a broad spectrum of additive manufacturing solutions," said Stratasys CEO David Reis. "Solid Concepts and Harvest Technologies are industry pioneers and innovators in the additive manufacturing space. In acquiring these two unique companies, Stratasys is gaining a broad solutions offering with technologies and decades of application and manufacturing experience."
In June 2013, during the company’s acquisition of MakerBot, Stratasys chairman Scott Crump told Bloomberg of his plans to move into metal AM. “Because there is so much opportunity we also will selectively grow though M&A,” Crump said. “We have an organic project to get Stratasys into additive metal. It’s rational to say that through M&A we want to expand with different technology on a dual path.”
