Mergers and acquisitions
Stratasys and Desktop Metal plan to merge in a $1.8 billion deal by the end of 2023. Both companies serve medical device developers and the broader healthcare market.
The companies estimate they’ll have $1.1 billion in 2025 revenue after the combination. The combined companies will have more than 800 scientists and engineers.
“With attractive positions across complementary product offerings, including aerospace, automotive, consumer products, healthcare and dental, as well as one of the largest and most experienced R&D teams, industry-leading go-to-market infrastructure and a robust balance sheet, the combined company will be committed to delivering ongoing innovation while providing outstanding service to customers,” Stratasys CEO Yoav Zeif said.
In April, Stratasys completed its acquisition of Covestro’s additive manufacturing materials business, covering approximately 60 additive manufacturing materials and an IP portfolio with hundreds of patents and patents pending. The deal also included R&D facilities and activities, a global development and sales team in Europe, the U.S. and Asia.
“With this acquisition, we’re not just expanding our materials portfolio for our broad array of 3D printing technologies — we’re also paving the way for more new innovations,” Zeif said at the time. “Additionally, our growing team of in-house materials experts will be in a stronger position to collaborate with our materials ecosystem partners. Together, we’ll be able to address more applications faster, pushing the boundaries of what’s possible in additive manufacturing.”
