Stratasys announced last night that it has signed a merger agreement with MakerBot, bringing together two major players in the 3D printing industry.
MakerBot will become a subsidiary of Stratasys in a stock-for-stock transaction but continue to operate as a separate arm maintaining current management, products and marketing identity. In turn, Stratasys enters a new market share of affordable desktop 3D printers for a growing prosumer client base (think professional meets consumer).
The two companies estimate that between 35,000 to 40,000 desktop 3D printers (in a price class of $1000-$3000) were sold in 2012 and they believe this number will double in 2013, as prosumers use desktop 3D printers to create projects at home and in the office.
The initial value of this transaction is roughly $403 million based on the closing stock price of Stratasys on June 19, 2013 (4.76 million shares at $84.60 per share).
The merger is expected to be completed by the end of the third quarter of 2013. This is the second acquisition for Stratasys in the last six months with the purchase of Objet in December 2012.