Stratasys And MakerBot Complete Merger
MINNEAPOLIS & REHOVOT, Israel (BUSINESS WIRE) — Stratasys, Ltd. (NASDAQ: SSYS), the leader in professional 3D printing, and MakerBot, the leader in desktop 3D printing, today announced the completion of their merger first announced on June 19th.
Stratasys is a pioneer in 3D printing for prototyping and production, and for more than 25 years has enabled designers and engineers to bring their ideas to life. MakerBot, founded in 2009, helped develop the desktop 3D printing market and has built the largest installed base of 3D printers in the category by making 3D printers highly accessible. MakerBot has sold more than 22,000 3D printers since 2009.
"Stratasys and MakerBot share a vision about the potential for 3D printing to transform design and manufacturing," said David Reis, Stratasys CEO. "Our goal now is to maximize the benefits this merger creates for our shareholders, our customers and our employees.”
Bre Pettis, CEO of MakerBot added, “We are excited for the future - full speed ahead!"
Consistent with the terms of the merger, Stratasys will issue up to 4.7 million of its shares in exchange for 100% of the outstanding capital stock of MakerBot. MakerBot stakeholders also qualify for performance-based earn-outs that provide for the issue of up to an additional 2.36 million shares through the end of 2014. Those earn-outs, if earned, will be made in Stratasys shares or cash (in an amount reflecting the value of the Stratasys shares that would have otherwise been issued at the relevant earn-out determination date), or a combination thereof, at Stratasys' discretion.
Stratasys Ltd. (Nasdaq: SSYS) is enabling design and manufacturing innovation through its 3D printers and materials for prototyping and production. For more information and news on Stratasys visit www.stratasys.com or http://blog.stratasys.com. MakerBot is a subsidiary of Stratasys, and is the world leader in desktop 3D printing. MakerBot desktop 3D Printers are used by engineers, designers, researchers, and people who just like to make things. Follow MakerBot at www.makerbot.com.