IndustryWeek is reporting that Stratasys has acquired Desktop Metal, consolidating two of the larger additive manufacturing companies into a single entity. While the $1.8 billion deal was called a combination in an announcement, Industry Week noted that Desktop Metal shareholders are getting Stratasys stock in the deal, and Stratasys CEO Yoav Zeif will be the CEO of the combined company.
“With attractive positions across complementary product offerings, including aerospace, automotive, consumer products, healthcare and dental, as well as one of the largest and most experienced R&D teams, industry-leading go-to-market infrastructure and a robust balance sheet, the combined company will be committed to delivering ongoing innovation while providing outstanding service to customers,” Zeif said in a press release.
Ric Fulop, Desktop Metal co-founder, chairman and CEO, called the deal "a turning point in driving the next phase of additive manufacturing for mass production." Fulop will be chairman of the new company’s board of directors.
“The combined company is expected to offer customers end to end solutions from designing, prototyping and tooling to mass production and aftermarket operations across the entire manufacturing lifecycle,” the companies said in their merger announcement.