Leading 3-D printer firms to merge in $403M deal
Source: MINNEAPOLIS (AP) - Stratasys, a leading maker of
MINNEAPOLIS (AP) - Stratasys, a leading maker of 3-D printers, is buying another 3-D printer manufacturer, MakerBot, for $403 million in stock.
Stratasys Ltd. said Wednesday the acquisition will enable it to offer affordable desktop 3-D printers. MakerBot, whose machines are priced around $2,000 to $3,000 and are aimed at the "prosumer" market, sells direct to buyers over its website. In contrast, Stratasys makes machines priced $10,000 to $600,000 mostly to industrial clients through resellers.
MakerBot's owners will receive 4.76 million newly issued Stratasys shares and are eligible for another 2.38 million through the end of 2014 if certain performance targets are met. That could raise the purchase price by about $201 million based on Wednesday's closing stock price.
The merger is expected to be completed in the third quarter of this year.
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