Strategic Acquisition Expands Direct Digital Manufacturing Vision.
MINNEAPOLIS - Additive manufacturing system maker Stratasys, (NASDAQ: SSYS), has acquired Solidscape, Inc. for $38 million plus certain purchase price adjustments.
New Hampshire-based Solidscape is a manufacturer of 3D printers serving investment casting applications in the jewelry, medical, dental and industrial markets. The company’s technology produces patterns that are used to cast highly precise metal parts.
Solidscape is widely recognized as the leader for casting applications that require high-precision, ultra-fine feature detail and a smooth surface finish. The company had revenues of $13.4 million and generated approximately $4.3 million in EBITDA for calendar year 2010.
“Solidscape is a strong, profitable company with an excellent reputation in the markets it serves,” said Stratasys CEO Scott Crump. “We believe there is a significant market opportunity to expand its business in the under-penetrated jewelry market and the relatively undeveloped medical, dental and industrial markets. Solidscape’s 3D printers are used in the manufacturing process, which is consistent with our strategy to pursue new markets for direct digital manufacturing applications.”
Stratasys will support Solidscape product development with the goal of producing systems that target new applications. Solidscape will operate from its base in New Hampshire as a wholly owned subsidiary of Stratasys. Solidscape leadership and management will stay with the company. Stratasys expects the acquisition of Solidscape will add approximately $0.04 per share to earnings in 2011.
“This agreement represents the joining of two well-established leaders in additive manufacturing,” says Solidscape President Michael Varanka. “We believe Stratasys and Solidscape have valuable synergies, and the two companies will make a good partnership.”
May 4, 2011
Popular Articles
- Two Indian SolidWorks resellers add Sescoi's WorkNC to their portfolio
- Call for Papers is Now Open for ESI Global Forum 2010
- Springboard Biodiesel using Autodesk Inventor to design and manufacture its clean tech solutions
- ESI registers €54.2 million Sales for the first 9 months, Further buoyant growth of 10.2%
- Gerber Technology Releases WebPDM™ Version 5.3
- Maruti Suzuki Case Study - Product lifecycle management solutions speed vehicle design and enable lower prices
- Delcam’s complete CAM range on show in Vietnam
- Siemens PLM Software Announces NX PCB Exchange for Zuken
- Apache Design's Totem Software Adopted by Fujitsu Semiconductor for Power Noise and Reliability Analysis
- PTC Named Winner of 2011 Frost & Sullivan Global Green Excellence in Product Innovation Award
