Connect with us

Hi, what are you looking for?

Jewish Business News


Stratasys Agrees To Acquire Solid Concepts Inc For $295 Million And Also Harvest Technologies

David Reis CEO Stratasys

Stratasys Inc. (Nasdaq: SSYS), a leading provider of 3D printing and other additive manufacturing solutions, announced today it is buying two more companies.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Stratsys has signed an agreement to acquire the privately held Solid Concepts Inc, which is based in Valencia, California and is presently the largest independent additive manufacturing service bureau in North America, founded as long ago as 1991. Solid Concepts is a partner to Stratysys’ own existing RedEye digital manufacturing service business. The price Stratsys is paying for Solid Concepts is up to US$295 million, with an unspecified mix of cash and stock.

Then, Stratasys is also buying the much smaller, and also privately held, Harvest Technologies,  which is based in Belton, Texas, and is also a specialty additive manufacturing service bureau was established in 1995. The financial terms of this purchase were not disclosed.

The two deals are expected to close in the current quarter, subject to customary closing conditions. Upon completion, Stratasys will combine Solid Concepts and Harvest Technologies with RedEye itself to establish a single unified additive manufacturing services business unit with reach throughout North America.

The deals also provide Stratasys with significant manufacturing and end-use parts production capabilities, capacity and process knowhow. These will help it continue to build its strategic platform to meet its customers’ additive manufacturing needs, and drive further adoption of Stratasys’ additive manufacturing solutions.

Stratasys CEO David Reis said, “We are pleased to announce these strategic transactions, which will enable us to provide customers with a comprehensive offering that addresses a broad spectrum of additive manufacturing solutions, ” adding, “With Solid Concepts and Harvest Technologies, together with RedEye, we expect to create a strategic platform to meet our customers’ additive manufacturing requirements by significantly expanding our offering, targeting new applications, and strengthening our customer relationships.”

Stratasys has to date already concluded a number of acquisitions to increase the size and scope of its business, as Reis also pointed out: “These transactions are consistent with our core strategic imperatives and M&A strategy, which is focused on acquiring leading companies to support our goal of continued leadership in the segments in which we operate, as well as reaching new niche verticals.”

With a strong share price and a US$5 billion market cap, buying private company earnings at a lower effective multiple than your own shares’ tradable stock P/E ratio can readily be accretive to earnings per share. Whilst the portion of the price being paid for both of these two deals that will be paid in stock is not precisely outlined, a sizable chunk of it will almost certainly be in stock rather than cash.

Stratasys is headquartered in both Eden Prairie, Minnesota and in Rehovot, Israel.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.