GrabCAD Workbench will enable Stratasys to offer customers a solution to drive communication and ease of use throughout the design and 3D printing process.
Founded in 2010, GrabCAD is home to a community a more than 1.5 million members and has been connecting people, content and technology to help engineers get products to market faster.
An unknown source for TechCrunch suggests the deal will be in the region of nine figures, around $100 million.
The acquisition means that Stratasys will benefit from GrabCAD’s industry leading software GrabCAD Workbench, a cloud based tool that provides a platform for engineers and designers to share and collaborate on CAD files and design data. This addition will allow Stratasys to drive communication and accessibility throughout the 3D printing process by expanding its technology solutions and user communities.
David Reis, Stratasys Chief Executive Officer said: "By increasing the collaboration and accessibility of 3D CAD files, we believe we can further accelerate the adoption of 3D printing solutions and Stratasys' product offerings. Together with GrabCAD, we believe that we will accelerate innovation and provide increased value to a growing universe of customers seeking to utilize 3D printing solutions. We also welcome GrabCAD's active and important community to the Stratasys family. The potential within our 3D ecosystem is very exciting."
Stratasys will gain a huge advantage in the form of GrabCAD's leading team of software professionals with an understanding of designer and engineer needs. It will also bring the added benefit of a 1.5 million strong community of mechanical engineers, designers and users with access to more than 500,000 free CAD designs.
Hardi Meybaum, Chief Executive Officer of GrabCAD, added: "GrabCAD was founded to bring the world's engineers together and help them collaborate to bring better products to market faster. By joining forces with Stratasys, a global leader in 3D printing and additive manufacturing, we believe we can extend the reach of one of the most exciting and innovative design collaboration technologies available.”
Details of the transaction have not been disclosed but the acquisition is expected to be complete by the end of this month. GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group under the continued leadership of Hardi Meybaum.