Stratasys buys US 3D print startup Origin for $100m

Yoav Zeif  / Photo: Stratasys
Yoav Zeif / Photo: Stratasys

The merger enables the Israeli company to expand its presence in the fast-growing mass production parts segment with a next-generation photopolymer platform.

Israeli 3D printing company Stratasys Inc. (Nasdaq: SSYS) announced today that it has signed an agreement to acquire San Francisco-based 3D printing start-up Origin Inc. for up to $100 million in cash and stock. The merger enables Stratasys to expand its presence in the fast-growing mass production parts segment with a next-generation photopolymer platform. The acquisition is expected to close in January 2021.

Stratasys expects Origin’s proprietary Programmable PhotoPolymerization (P3) technology to be an important growth engine for the company, adding up to $200 million incremental annual revenue within five years. The acquisition will help strengthen Stratasys’ position in polymers and production applications of 3D printing in industries such as dental, medical, tooling, and select industrial, defense, and consumer goods segments.

Under the terms of the agreement, Stratasys will pay $60 million on closing and $40 million subject to performance-based milestones over three years.

Stratasys CEO Yoav Zeif said, "Our customers are looking for additive manufacturing solutions that enable use of industrial-grade resins for mass production parts with process and quality control. We believe Origin’s software-driven Origin One system is the best in the industry by combining high throughput with incredible accuracy. When combined with Origin’s extensive materials ecosystem and our industry-leading go-to-market capabilities, we believe we will be able to capture a wide range of in-demand production applications on a global scale. Together with our intended entry into powder bed fusion technology, the acquisition of Origin reflects another step in fulfilling our objective to lead in polymer additive manufacturing by offering comprehensive, best-in-class technologies and solutions to create a fully digital additive value chain, designed for Industry 4.0 integration."

"We founded Origin to create a whole new additive manufacturing platform that enables mass production of end-use parts with incredible accuracy, consistency, and throughput along with a wide range of available materials," said Origin CEO and co-founder Christopher Prucha. "Stratasys is the best company for us to join to achieve our vision, giving us an unparalleled opportunity to significantly expand market reach and enable us to bring our P3 technology to a larger audience."

Published by Globes, Israel business news - en.globes.co.il - on December 9, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Yoav Zeif  / Photo: Stratasys
Yoav Zeif / Photo: Stratasys
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