Stratasys acquires Solid Concepts for $295m

The 3D printer maker has also acquired parts production company Harvest Technologies.

3D printer maker Stratasys Inc. (Nasdaq: SSYS) has acquired two companies: Solid Concepts Inc. for up to $295 million, and Harvest Technologies Inc., for an undisclosed amount.

Stratasys will merge the two companies with digital manufacturing service business, RedEye, which already partners with Solid Concepts, to create a single additive manufacturing services business unit. Solid Concepts president Joe Allison will head this unit. It says that the acquisitions will create a strategic platform focused on meeting customers additive manufacturing needs through an expanded technology and business offering by adding significant manufacturing and end-use parts production capabilities.

Solid Concepts specializes in medical and aerospace, and Harvest Technologies specializes in parts production and materials and systems knowhow. Together with RedEye, they strengthen Stratasys direct digital manufacturing and parts production expertise.

California-based Solid Concepts was founded in 1991, and has six facilities in the US with 450 employees. It had $65 million revenue in 2013. The company has PolyJet, stereolithography, plastic and direct metal laser sintering, fused deposition modeling (FDM), QuantumCast, cast urethanes, CNC, tooling and injection molding for low to high volume production of plastics, urethanes, and metals directly from design data.

Texas-based Harvest Technologies, was founded by in 1995, and has 80 employees. It has 40 laser sintering (LS/SLS), direct metal laser sintering, FDM, and stereolithography machines.

"These transactions are consistent with our core strategic imperatives and M&A strategy, which is focused on acquiring leading companies to support our goal of continued leadership in the segments in which we operate, as well as reaching new niche verticals," said Stratasys CEO David Reis.

"With Solid Concepts and Harvest Technologies, together with RedEye, we expect to create a strategic platform to meet our customers additive manufacturing requirements by significantly expanding our offering, targeting new applications, and strengthening our customer relationships. As our customers requirements continue to expand, we must evolve to create full service offerings that provide a variety of technologies and custom manufacturing solutions and focus on high-end production applications."

Published by Globes [online], Israel business news - - on April 2, 2014

Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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