TCT has just received the following release from RedEye, the service company arm of Stratasys, announcing that Stratasys and Objet are to merge.
Full details of the merger are unknown as yet, but the deal is expected to complete in Q3 this year with each company trading as a separate entity until then.
The move follows recent speculation that Objet have been in acquisition talks with a high-tech company. This is a fascinating move, bringing two established and scaleable technologies together. we will update with more information as it becomes avaiable...
Press release below:
I am pleased to share some exciting news with you. Today we announced that RedEye's parent company, Stratasys, and Objet have reached an agreement to merge, creating an even stronger company better positioned for growth.
As you may know, Objet is a leading manufacturer of 3D printers for rapid prototyping. Founded in 1998, the company developed its proprietary inkjet-based 3D printing technology, and today has more than 2,800 customers worldwide, including several of the Fortune 100 and Fortune 500 companies. Objet is headquartered in Rehovot, Israel and has more than 430 employees.
We are confident that this combination will enhance our ability to serve you by bringing together two companies with customer-focused, differentiated capabilities and a shared commitment to excellence. We believe that together we will offer you, a broader range of rapid prototyping and direct digital manufacturing services and an exciting roadmap for future product services. We hope you share our excitement.
The combined company will continue to operate under the Stratasys name and will have dual headquarters in Eden Prairie, Minnesota and Rehovot, Israel. As we work towards completing the combination and following the combination, there will be no changes in your relationship with RedEye or Stratasys, and your day-to-day contacts will remain the same. In short, it is business as usual for customers of RedEye. We will continue to deliver the same great on-demand services you have come to expect. As always, if you have any questions, please feel free to call your RedEye Account Manager or email godigital@redeyeondemand.com
The transaction is expected to be completed in the third quarter of this year. Until then, both Stratasys and Objet will continue to operate as separate companies. Given the complementary nature of our technology portfolios and our shared commitment to innovation and service, we anticipate a seamless integration.
We appreciate your business and thank you for your continued support.
Sincerely,
Scott Crump
Chief Executive Officer and Chairman
Stratasys
