Israeli 3D printer manufacturer Stratasys is acquiring the German additive materials company Covestro AG for $43 million. With additional performance payments, the total could come to as much as $80 million. The purchase of Covestro includes R&D facilities and activities, global development and sales teams across Europe, the U.S. and China, a portfolio of approximately 60 additive manufacturing materials, and an extensive IP portfolio comprised of hundreds of patents and patents pending.
The acquisition comes just a few weeks after Stratasys fended off a hostile takeover bid from Nano Dimension by taking what is commonly referred to as a “poison pill” – also known as a Shareholder Rights Plan.
Stratasys offers 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys boasts that its solutions deliver “competitive advantages at every stage in the product value chain.”
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Founded in 2015, Covestro is a manufacturer of high-quality polymer materials and their components. With its innovative products, processes and methods, the company helps enhance sustainability and the quality of life in many areas. Covestro supplies customers around the world in key industries such as mobility, building and living, as well as the electrical and electronics sector. In addition, polymers from Covestro are also used in sectors such as sports and leisure, cosmetics and health, as well as in the chemical industry itself.
Covestro has been a key part of Stratasys’ third-party materials ecosystem, and the acquisition will benefit customers using multiple Stratasys 3D printing platforms, including its Origin P3™, Neo® stereolithography, and H350™ printers. Stratasys is already a distributor of Covestro’s Somos® resins and they are already available for Neo and Origin® One 3D printers.
“Innovative materials are the fuel of additive manufacturing and translate directly into the ability to create new use cases for 3D printing, particularly in the production of end-use parts like dental aligners and automotive components,” said Stratasys CEO Dr. Yoav Zeif. “The acquisition of Covestro’s highly regarded Additive Manufacturing business positions us to further grow adoption of our newest technologies. We will now have the ability to accelerate cutting-edge developments in 3D printing materials, and advance our strategy of providing the best and most complete polymer 3D printing portfolio in the industry.”