Stratasys Ltd. (NASDAQ:SSYS), a leading global provider of 3D printing
and additive manufacturing solutions, today announced that it has
entered into definitive agreements to acquire two privately-held
companies, Solid Concepts Inc. and Harvest Technologies. Solid Concepts
is the largest independent additive manufacturing service bureau in
North America and a fast-growing partner to RedEye, Stratasys’ existing
digital manufacturing service business. The transactions are expected to
be completed early in the upcoming third quarter, subject to customary
closing conditions, and are expected to be accretive to Stratasys’
Non-GAAP earnings per share within the first 12 months after closing.
Upon completion of the transactions, Stratasys will combine Solid
Concepts and Harvest Technologies with RedEye to establish one additive
manufacturing services business unit. Joe Allison, President of Solid
Concepts, will join the Stratasys management team and lead the combined
parts business, supported by the strong management teams of Solid
Concepts, Harvest Technologies, and RedEye.
read more