Stratasys Buys Solid Concepts, Harvest Tech
MINNEAPOLIS (AP) -- Stratasys is buying additive manufacturing services providers Solid Concepts and Harvest Technologies.
Solid Concepts Inc. is the biggest independent additive manufacturing service bureau in North America and a partner to RedEye, Stratasys' existing digital manufacturing service business. The company is based in Valencia, Calif.
Stratasys said that it will pay up to $295 million for Solid Concepts. Financial terms of the Harvest Technologies deal were not disclosed.
Both Solid Concepts and Belton, Texas-based Harvest Technologies are privately held.
Stratasys, which provides 3D printing and additive manufacturing services, said Wednesday that once the transactions are complete it plans to combine Solid Concepts and Harvest Technologies with RedEye to create one additive manufacturing services division.
The deals are expected to close early in the third quarter and add to Stratasys' adjusted earnings per share within the first year after the transactions are complete.
Stratasys Ltd. is headquartered in Minneapolis and Rehovot, Israel.
Its shares fell 32 cents to $110.65 in premarket trading about 1 ½ hours before the market open.