The transaction is expected to increase faster adoption of 3D printing
Printing manufacturer Stratasys has signed a deal to acquire the desktop 3D printer manufacturer MakerBot for $403m in a stock-for-stock transaction.
The transaction is expected to increase faster adoption of 3D printing for various applications and industries driven by implementation of desktop 3D printers as mainstream tool across many market segments and also strengthen Stratasys’ market position.
Following the acquisition, MakerBot will function as a separate subsidiary of Stratasys, maintaining its own identity and products and will be led by its CEO and co-founder Bre Pettis.
Bre Pettis said that partnering with Stratasys will allow the company to supercharge its mission to allow individuals to make things using a MakerBot, and allow it to bring 3D technology to more people.
"I am excited about the opportunities this combination will bring to our current and future customers," Pettis added.
Expected to be completed the third quarter of 2013, the merger is subject to regulatory approvals and other customary conditions and will enable Stratasys to offer more desktop 3D printers to meet customer demand and accelerate that growth.
During the first quarter of 2013, MakerBot has reported revenue of $11.5m, compared to $15.7m for all of 2012.