Stratasys and Desktop Metal announced a $1.8 million dollar deal that will merge the two additive manufacturing companies. Leadership on both sides stressed the importance of the merger for the future of additive manufacturing in industrial mass production.
The resulting company will be one of the largest in the industry, with a target of $1.1 billion in annual revenue by 2025. Over half of the revenue is expected to come from mass production and end-use parts manufacturing. The company will offer customers end-to-end solutions ranging from designing, prototyping, and tooling to mass production and aftermarket operations.
Dr. Yoav Zeif, CEO at Stratasys, will be CEO of the new company while Ric Fulop, cofounder and CEO of Desktop Metal, will transition to chairman of the board. The transaction is expected to close in the fourth quarter of 2023.
Stratasys has also announced the receipt of a proposal for acquisition from 3D Systems.