Objet to merge with Stratasys
Stratasys and Objet have agreed a definitive merger agreement under which both companies will combine in an all stock transaction with a combined equity value of approximately $1.4billion.
The transaction is expected to position the combined company, which will retain the name Stratasys, as a leader within the 3D printing and digital manufacturing industry.
"Today marks a significant milestone for Stratasys and an important development for the 3D printing and direct digital manufacturing industry," said Scott Crump, ceo and chairman of Stratasys. "We are bringing together two of the most innovative and respected players in the field to create a global leader in a high growth industry.
"Together we will have a broader and more comprehensive product and technology portfolio, and the resources, team and financial strength to achieve our goals. Building on the success of both companies, I am confident that we will capitalise on the many opportunities this combination creates."
According to a statement, the combined company will have dual headquarters in Israel and the US. The deal is expected to close in the third quarter of 2012.
