Tag Archives: consolidation
3D Systems (NYSE:DDD) announced the acquisition of Paramount Industries, a leader in product development and manufacturing solutions for aerospace and medical devices. This news comes on the heels of 3D Systems’s acquisition of My Robot Nation, and the $1.4 billion merger of Stratasys and Objet.
Abe Reichental, President and CEO of 3D Systems, made the statement, ”We are very pleased to add a proven direct manufacturing innovator of Paramount’s reputation, experience and scale to our rapidly growing, global network of on-demand parts services.”
This acquisition is the latest in a string of M&A deals by 3D Systems since the company went public in early 2011.
Paramount Industries itself is a 45-year-old company with deep expertise:
Paramount Industries is among the world’s most experienced manufacturers and providers of product development services, including product design and engineering, rapid prototyping, rapid tooling and direct manufacturing that produces custom parts direct from digital input.
Originally founded in 1966, Paramount has expanded its scope to apply advanced technology in all aspects of product development. Today, Paramount offers a comprehensive array of services. In addition to rapid prototyping and rapid tooling, Paramount sets the pace in direct manufacturing of precision parts from 3D CAD digital input, utilizing advanced Selective Laser Sintering technology. Paramount’s services also include injection molding, full-scale manufacturing from domestic and offshore facilities as well as assembly and packaging.
The video below showcases Paramount Industries’ high temperature laser sintering capabilities.
More information in the Press Release.
Consolidation is in the air! Last week we saw 3D Systems acquire My Robot Nation. This week, Stratasys (NASDAQ:SSYS) announced a plan to merge with Objet Ltd. in an all-stock transaction valuing the newly combined company at $1.4 billion, according to a press release.
The combined company, which will retain the Stratasys name and operate under the name Stratasys Ltd., will have dual headquarters in Eden Prairie, Minnesota and Rehovot, Israel, the locations of Stratasys’ and Objet’s current headquarters, respectively, and will be registered in Israel. The company will continue to trade on NASDAQ under the ticker SSYS. Scott Crump, co-founder, current chief executive officer and chairman of Stratasys, will become full-time chairman of the combined company. Upon completion of the transaction, the combined company will also form an executive committee comprised of four members of the board of directors whose duties will include overseeing the integration of Stratasys and Objet and implementing the combined company’s business strategy. Elchanan Jaglom, current chairman of Objet, will serve as chairman of the executive committee of the combined company.
Stratasys beat analysts expectations for Q1 2012, pulling in revenue of $45 million compared to expectations of $42 million.
Stratasys classifies itself as “a leading manufacturer of 3D printers and production systems for prototyping and manufacturing applications”, and privately held Objet Ltd. as “a leading manufacturer of 3D printers for rapid prototyping.” Once merged, this entity will have an undeniable leadership position in the emerging 3D printing industry.
More details of the merger are available in an investor presentation prepared by Stratasys.