3D printing company Stratasys acquires Solid Concepts and Harvest Technologies
Stratasys has announced that it is going to acquire Solid Concepts and Harvest Technologies. Stratasys is going to pay up to $295 million for Solid Concepts, which will include up to $172 million up front and up to $123 million in delayed payments, according to GigaOM. Stratasys did not disclose the financial details of the Harvest Technologies acquisition.
Stratasys is going to combine both companies with RedEye, an on-demand printing service. RedEye is used for larger industrial prototyping. Rather than spending thousands of dollars to buy smaller 3D printers, some manufacturers prefer to outsource. Solid Concepts and Harvest Technologies have similar services as RedEye.
Solid Concepts made around $65 million in revenue last year. It is one of the largest independent 3D printing service providers in North America.