Fictiv has agreed to be acquired by Japanese manufacturing components supplier MISUMI Group Inc.
The all-cash deal, which is subject to regulatory review and closing conditions, has a total consideration of $350 million and will pair the manufacturing service platform’s AI-driven digital supply chain network with MISUMI’s catalogue of mechanical components, tools and consumables, which are supplied to over 318,000 companies worldwide.
In a blog post sharing the announcement, Fictiv, which has produced over 35 million commercial and prototype components to date through its network of manufacturing centres in the US, India, Mexico, and China, said it believes the acquisition will allow the company to expand and scale faster while “super-charging [its] global physical infrastructure and capabilities.”
Ryusei Ono, Representative Director and President, MISUMI Group Inc. said, "From its earliest days, MISUMI's culture of ingenuity and innovation has made us a leader and pioneer in making it easier for customers to procure manufacturing components that fit their needs. Fictiv brings exceptional talent, proven technology, and a shared commitment to innovation."
Fictiv has been in operation for the last 10 years and connects engineers and companies via its online portal with manufacturing capabilities including rapid 3D printing, CNC machining, injection moulding, urethane casting, sheet metal and die casting. In a press release, the companies said MISUMI’s investment will make Fictiv’s solution ‘even better and more scalable’ by delivering a single global platform capable of building an entire bill-of-materials at competitive prices and speeds.
Dave Evans, Co-Founder & CEO, Fictiv commented, "Fictiv and MISUMI share a joint vision to make world-class manufacturing & supply chain capabilities easier, more accessible, more intelligent, and democratised. Giving more teams the tools to take their ideas from concept to reality will unlock innovation to fuel the advancements we want to see in the world."
