It’s been a busy day in the 3D printing industry. Earlier today 3D Systems announced that they had acquired Medical Modeling Inc, and today, another 3D printing giant, Stratasys, announced that they had agreed to acquired two companies, Solid Concepts, and Harvest Technologies.
Solid Concepts, the largest dedicated provider of 3D printing, rapid prototyping, tooling and injection molding services in North America, will be acquired for a total of $295 million. This includes $172 million in an up front payment, and another $123 million in delayed payments. Recently the company, headquartered in Valencia, California, gained notoriety after printing out the first known metal hand gun. Last year they generated revenue of $65 million.
Harvest Technologies, headquartered in Belton, Texas, is a full-service rapid prototyping and manufacturing service provider. The company has close to 20 years of experience in the additive manufacturing industry, and owns 40 laser sintering, FDM, and Stereolithography machines housed in a 40,000 square foot facility. The terms of this acquisition were not disclosed to the public.
Stratasys plans on combining these two new companies with their existing digital manufacturing service business, Redeye, to form what will be a major additive manufacturing outsourcing business. The printers used by these entities can be valued at up to $1 million a piece, making them perfect for companies who wish to hire out prototyping without needing to spend big bucks for the machinery.
“With the addition of Solid Concepts and Harvest Technologies, Stratasys is creating a leading strategic platform focused on meeting customers’ additive manufacturing needs through an expanded technology and business offering,” the statement said. “The combination of Solid Concepts’ deep knowledge of manufacturing and vertical focus, such as medical and aerospace, and Harvest Technologies’ experience in parts production, as well as materials and systems know how, together with RedEye, strengthens Stratasys’ direct digital manufacturing and parts production expertise.”
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