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Slide #5. Stratasys — Harvest Technologies
Harvest Technologies, a Belton, Texas based additive manufacturing service bureau, announced today that it has entered into a definitive agreement for its acquisition by Stratasys (NASDAQ: SSYS), a leading global provider of 3D printing and additive manufacturing solutions. In conjunction with its acquisition of Harvest Technologies, Stratasys also announced its acquisition of Solid Concepts Inc., the largest independent additive manufacturing service bureau in North America. The transactions are expected to be completed early in the upcoming third quarter, subject to customary closing conditions, and are expected to be accretive to Stratasys' Non-GAAP earnings per share within the first 12 months after closing. Upon completion of the transactions, Stratasys will combine Harvest Technologies and Solid Concepts with RedEye, Stratasys' existing digital manufacturing service business, to establish one additive manufacturing services business unit. Joe Allison, President of Solid Concepts, will join the Stratasys management team and lead the combined parts business, supported by the strong management teams of Solid Concepts, Harvest Technologies, and RedEye.
Stratasys is a provider of applied additive technology solutions for industries including aerospace, automotive, healthcare, consumer products and education. Co. operates a 3D printing ecosystem of solutions and capability, comprised of advanced materials; software with voxel level control; precise, repeatable and reliable fused deposition modeling 3D printers (utilizing proprietary FDM technology) and inkjet-based 3D printers (utilizing proprietary PolyJet technology); application-based services; on-demand parts and key partnerships. Co.'s services offerings include Stratasys Direct Manufacturing printed parts service as well as its other services.
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Hold (1.80 out of 4)