Friday, April 4, 2014
Solid Concepts Acquired By Stratasys For $295M
Valencia, California-based Solid Concepts, a provider of 3D printing and prototyping services, has been acquired by Stratasys Ltd. in a deal worth $295M. According to the companies, Stratasys will pay $172M in cash on closing, plus deferred payments of $60M and up to $63M in retention-related payments for Solid Concepts. Solid Concepts operates six, U.S. facilities and employes a total of 450 employees, which uses 3D printing technology for prototyping parts for the medical, aerospace, industrial, and other industries. Stratasys said it would combine Solid Concepts with two other companies--Harvest Technologies and RedEye--to create a manufacturing company focused on additive manufacturing.