Combination creates a world leader in 3D printing and direct digital manufacturing.
US based Stratasys, Inc. and Israel based Object ltd have announced the completion of a merger between the two companies. The new entity creates a major force in 3D printing and direct digital manufacturing and will be now known as Stratasys Ltd under the symbol SSYS.
Stratasys now boasts an impressive portfolio of 3D printing and direct digital manufacturing solutions. The company will offer three leading technologies: FDM® for functional prototypes and production parts; inkjet-based PolyJet® for prototyping parts which require high feature details and fine surface finishes; and Solidscape® Drop-on-Demand ("DoD") thermoplastic ink-jetting technology for complex wax patterns for investment casting of finished parts. Stratasys now has more than 260 channel partners around the world and the new company believes it can leverage this extensive geographic reach of its marketing and sales organization to serve customers and grow awareness of 3D printing for rapid prototyping and production. Stratasys will also focus heavily on R&D to develop new consumables and systems.
David Reis, chief executive officer of Stratasys, stated, "We are excited to move forward as one company and deliver the benefits this combination creates for our shareholders, our customers and our employees. Stratasys is now uniquely positioned to offer a comprehensive portfolio of innovative products and technologies and we have the scale, team and financial strength to achieve our goals. I look forward to working closely with the board of directors, our senior management team and all of our employees to ensure a seamless transition as we continue to deliver advanced solutions to our customers worldwide."
Scott Crump, full-time executive chairman of Stratasys echoed these sentiments.
"We are pleased to announce the successful completion of this merger," he said. "With our breadth of products, commitment to innovation, and outstanding, service-focused team, we will be well positioned to address customer needs across the entire 3D design and manufacturing spectrum. The combined company has a deep well of talent and a strong board and management team to lead us successfully as we continue to pave a new way forward for the 3D printing industry."
Stratasys will maintain dual headquarters, both in Eden Prairie, Minnesota, and in Rehovot, Israel.
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