The 3-D printing market is growing all the time. 3-D printing is becoming more and more common as a way for companies prototype parts before moving into mass production. 3-D printing generally involves the use of some sort of resin material and lasers. As the laser shines on the resin material it hardens allowing a solid object to be built layer by layer.
Two of the biggest companies in the 3-D printing market have announced a merger. The two companies are Stratasys and Objet Ltd. The merger transaction is worth $1.4 billion. Once merged the companies will operate under the Stratasys name. Interestingly, Objet had been anticipating making an IPO expected value the company at $500 million.
Once the companies merge, the current CEO of Stratasys Scott Crump will become chairman of both companies with the current CEO of Objet, Davis Reis, becoming the new CEO of the combined company. Objet chairman Elchanan Jaglom is now the chairman of a four-member executive committee overseeing the merger. His position once the merger is complete is unknown.
“Today marks a significant milestone for Stratasys and an important development for the 3D printing and direct digital manufacturing industry,” Crump said in a statement. “We are bringing together two of the most innovative and respected players in the field to create a global leader in a high-growth industry. Together we will have a broader and more comprehensive product and technology portfolio, and the resources, team, and financial strength to achieve our goals.”