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Stratasys

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Stratasys Ltd.
Company typePublic
Industry3D printing
Founded1989; 35 years ago (1989)
FounderS. Scott Crump
Headquarters
Key people
Products
RevenueDecrease US$628 million (2023)
Decrease US$−88 million (2023)
Decrease US$−123 million (2023)
Total assetsDecrease US$1.13 billion (2023)
Total equityDecrease US$885 million (2023)
OwnerNano Dimension (14.5%)[2]
Number of employees
1,980 (2023)
SubsidiariesStratasys Direct
Websitestratasys.com
Footnotes / references
[3]

Stratasys, Ltd. is an American-Israeli manufacturer of 3D printers, software, and materials for polymer additive manufacturing as well as 3D-printed parts on-demand.[4][5] The company is incorporated in Israel.[6] Engineers use Stratasys systems to model complex geometries in a wide range of polymer materials, including: ABS, polyphenylsulfone (PPSF), polycarbonate (PC) and polyetherimide and Nylon 12.

Stratasys manufactures in-office prototyping and direct digital manufacturing systems for automotive, aerospace, industrial, recreational, electronic, medical and consumer product OEMs.[7]

History

[edit]

Stratasys was founded in 1989, by S. Scott Crump and his wife Lisa Crump in Eden Prairie, Minnesota. The idea for the technology came to Crump in 1988 when he decided to make a toy frog for his young daughter using a glue gun loaded with a mixture of polyethylene and candle wax. He thought of creating the shape layer by layer and of a way to automate the process. In April 1992, Stratasys sold its first product, the 3D Modeler.[8]

In October 1994, Stratasys had an initial public offering on Nasdaq; the company sold 1.38 million shares of common stock at $5 per share, netting approximately $5.7 million.[9]

In January 1995, Stratasys purchased IBM's rapid prototyping intellectual property and other assets and employed 16 former IBM engineers, who had been developing a small 3-D printer that relied on an extrusion system very similar to Crump's patented fused deposition modeling (FDM) technology.[10]

In 2003, Stratasys fused deposition modeling (FDM)[11] was the best-selling rapid prototyping technology.[12] FDM is a process that the company patented, which is used to produce three-dimensional parts directly from 3D CAD files layer-by-layer for use in design verification, prototyping, development and manufacturing.

In 2007, Stratasys supplied 44% of all additive fabrication systems installed worldwide, making it the unit market leader for the sixth consecutive year.[13]

In January 2010, Stratasys signed an agreement with HP to manufacture HP-branded 3D printers.[14] In August 2012, the HP manufacturing and distribution agreement was discontinued.

In May 2011, Stratasys announced that they had acquired Solidscape, a leader in high-precision 3D printers for lost wax casting applications.[15]

In 2012, Defense Distributed, an unrelated project to produce a working firearm by 3D printing, was intended to use a Stratasys printer. Stratasys refused to permit this and withdrew its license for use of the printer, citing that it did not allow its printers "to be used for illegal purposes".[16][17]

In 2014 the Israeli fashion designer Noa Raviv featured grid pattern centered couture garments which were created employing Stratasys' 3D printing technology. Some selections from the aforementioned collection were exhibited in 2016 at the exhibition "Manus X Machina" at the Anna Wintour Costume Center at New York City's Metropolitan Museum of Art.[18][19]

In 2019, the J750 model was recognized as the Enterprise 3D Printer of the Year in the polymer printer category at the 2019 3D Printing Industry Awards in London, England.[20]

In May 2023, Stratasys agreed to combine with Desktop Metal in an all-stock transaction worth at $1.8 billion, in which existing Stratasys shareholders will own around 59 percent of the combined company.[21] Prior to, and following the acquisition announcement, Stratasys received multiple unsolicited bids to be acquired by part-owner Nano Dimensions, and in June, received another offer for $1.2 billion from its competitor 3D Systems.[22][23] Stratasys terminated the acquisition in September after its shareholders voted against the Desktop Metal acquisition as both major proxy advisory firms Glass Lewis and Institutional Shareholder Services recommended against the deal.[24]

In August 2024, Stratasys filed a suit against Chinese 3D printing company Bambu Lab, alleging patent infringement.[25]

Mergers and acquisitions

[edit]

On April 16, 2012, Stratasys announced that it agreed to merge with privately held Objet Ltd., a leading manufacturer of 3D printers based in Rehovot, Israel, in an all-stock transaction. Stratasys shareholders were expected to own 55 percent of the combined company, and Objet shareholders would own 45 percent. The merger was completed on December 3, 2012; the market capitalization of the new company was approximately $3.0 billion.[26]

On June 19, 2013, MakerBot Industries announced that it was purchased by Stratasys for $403 million.[27]

On April 2, 2014, Stratasys announced that they had entered into definitive agreements to acquire Solid Concepts and Harvest Technologies, which will be combined with RedEye, its existing digital manufacturing service business, to establish a single additive manufacturing services business unit.[28] The acquisition was finalized on July 15, 2014.[29]

In February 2016, Stratasys announced an investment in Israeli company Massivit to promote and deploy Massivit 3D's proprietary super-sized 3D printing solutions.

On November 4, 2016, Inkbit announced that Stratasys led an equity funding round with DSM Venturing to propel production of its Vision-based, artificial intelligence additive manufacturing platform.[30]

On December 9, 2020, Stratasys announced a deal to acquire San Francisco-based Origin for $100 million.[31] The acquisition was finalized on December 31, 2020.[32]

On April 27, 2021, Stratasys announced the Stratasys Origin One, an updated version of the Origin One 3D Printer targeted towards production applications.[33]

In 2021, Stratasys acquired the outstanding shares of Xaar 3D, which Stratasys purchased from Xaar. Xaar 3D provides 3D printers using SAF Selective Absorption Fusion technology, a type of powder bed fusion. This technology is designed to 3D print polymer production parts at volume. The first printer used the technology is called the H350.[34]

In 2021, Stratasys announced the acquisition of RP Support Ltd. (RPS), which makes large stereolithography 3D printers.[35]

On May 12, 2022, MakerBot and Ultimaker announced plans to merge. The new single company is to be backed by NPM Capital and MakerBot-owner Stratasys and co-led by existing CEOs Nadav Goshen and Jürgen von Hollen.[36]

In October 2022, Stratasys acquired the Berkeley-headquartered quality assurance software company Riven.[37]

3D car production systems

[edit]

In 2014, Stratasys prototyped an electric car with fully 3D-printed exterior panels, and a few printed interior parts. Development took one year, and parts were constructed using a Stratasys Objet1000.[38]

Urbee

[edit]

Urbee[39] is the first car in the world manufactured using additive manufacturing technology (its bodywork and car windows were "printed"). Created in 2010, through a partnership with the Canadian engineering group KOR Ecologic,[40] it is a hybrid vehicle with a futuristic look.[41][42][43]

See also

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References

[edit]
  1. ^ "Stratasys locations". Retrieved 7 June 2020.
  2. ^ Nair, Aishwarya (April 13, 2023). "Stratasys rejects Nano Dimension's takeover offer, sets up hostile fight". Reuters.
  3. ^ "Stratasys Ltd. 2023 Annual Report (Form 20-F)". U.S. Securities and Exchange Commission. 11 March 2024.
  4. ^ Engle, Greg (June 1, 2022). "Hot Off The Press: Nascar Teams With Stratasys For 3D-Printed Parts". Forbes.
  5. ^ Boik, John (2004). Lessons from the Greatest Stock Traders of All Time. McGraw-Hill Professional. p. 24. ISBN 978-0-07-143788-2. Retrieved 2008-10-31.
  6. ^ "SEC filing with information about country of incorporation" (PDF). Retrieved 7 June 2020.
  7. ^ "Hot Growth Companies: Stratasys Profile". BusinessWeek. Archived from the original on June 15, 2006. Retrieved 2008-10-31.
  8. ^ Stratasy company history, Funding Universe
  9. ^ Stratasys, Inc. (Nasdaq: SSYS) announce an initial public offering of 1,200,000 shares of its Common Stock Archived 2016-03-16 at the Wayback Machine; PRNewswire, 20 Oct 1994
  10. ^ Stratasys purchases IBM's rapid prototyping technology Archived 2016-03-05 at the Wayback Machine; PRNewswire, 3 Jan 1995
  11. ^ Chee Kai Chua; Kah Fai Leong; Chu Sing Lim (2003). Rapid Prototyping. World Scientific. p. 124. ISBN 978-981-238-117-0. Retrieved 2008-10-31.
  12. ^ "Almost Out of the Woods". Forbes.com. Retrieved 2007-02-17.
  13. ^ Wohlers, Terry (2008). "Wohlers Report 2008". Wohlers Associates.
  14. ^ Stratasys and HP join forces to make 3D printers; Shapeways, January 19. 2010
  15. ^ "Stratasys Acquires 3D Printer Maker, Solidscape". May 3, 2011. Archived from the original on 2011-10-29.
  16. ^ "Plans to print a gun halted as 3D printer is seized". BBC News Online. 3 October 2012.
  17. ^ Beckhusen, Robert (2012-10-01). "3-D Printer Company Seizes Machine From Desktop Gunsmith". Wired. Wired News. Retrieved 2013-06-12.
  18. ^ "2D Fashion Meets 3D Printing in Noa Raviv's New Award-Winning Collection".
  19. ^ Dan Howarth (August 21, 2014). "Noa Raviv combines grid patterns and 3D printing for Hard Copy fashion collection". Dezeen. Retrieved December 26, 2019.
  20. ^ "2019 3D Printing Industry Awards winners announced". 3D Printing Industry. 2019-06-11. Retrieved 2019-07-08.
  21. ^ Roof, Katie; Baker, Liana (May 25, 2023). "Stratasys to Combine With Desktop Metal in $1.8 Billion Deal". Bloomberg News.
  22. ^ Kennedy, Patrick (June 2, 2023). "Stratasys receives another $1B takeover bid as 3-D printer market consolidate". Star Tribune.
  23. ^ Heater, Brian (June 2, 2023). "After Stratasys and Desktop Metal announce merger plans, 3D Systems proposes acquisition". TechCrunch.
  24. ^ Habib-Valdhorn, Shiri (September 28, 2023). "Stratasys shareholders nix merger with Desktop Metal". Globes.
  25. ^ Sher, Davide (2024-08-10). "Stratasys files patent infringement lawsuit against Bambu Lab". VoxelMatters - The heart of additive manufacturing. Retrieved 2024-08-11.
  26. ^ Dror Raich, Inbal Orpaz (December 5, 2012). "3D Printer Maker Objet Merges With Its U.S. Rival". Haaretz. Retrieved December 26, 2019.
  27. ^ Neil Parmar (August 6, 2013). "3D printing is the new dimension for aerospace industry". The National (Abu Dhabi). Retrieved December 26, 2019.
  28. ^ [1];MarketWatch, April 2, 2014
  29. ^ [2] Archived 2014-08-14 at the Wayback Machine; CNBC.com, July 15, 2014
  30. ^ "Inkbit | Inkbit Raises $12 Million in Equity Round Led by Stratasys and DSM Venturing". inkbit3d.com. Retrieved 2019-11-04.
  31. ^ "Stratasys to Acquire Origin, Bringing New Additive Manufacturing Platform to Polymer Production". Stratasys Ltd. 9 December 2020. Retrieved 2021-06-08.
  32. ^ "Stratasys Completes Acquisition of Origin, Accelerating Expansion Into Mass Production Additive Manufacturing". Stratasys Ltd. 5 January 2021. Retrieved 2021-06-08.
  33. ^ "Stratasys Aggressively Advances Additive Manufacturing Strategy With 3D Printing Triple Play". Stratasys Ltd. 27 April 2021. Retrieved 2021-06-08.
  34. ^ Hanaphy, Paul (October 6, 2021). "Stratasys takes full control of Xaar 3D to boost high-throughput H Series 3D printing". 3D Printing Industry.
  35. ^ "Stratasys acquires UK 3D printing co RP Support". Globes. February 18, 2021.
  36. ^ Heater, Brian (May 12, 2022). "MakerBot and Ultimaker announce plans to merge". TechCrunch.
  37. ^ Network, 3D Printing Media (2022-10-26). "Stratasys acquires software company Riven". 3D Printing Media Network - The Pulse of the AM Industry. Retrieved 2022-10-26.{{cite web}}: CS1 maint: numeric names: authors list (link)
  38. ^ Revolutionary New Electric Car Built and Tested in One Year with Objet1000 Multi-material 3D Production System
  39. ^ Stratasys 3D Printers Build Urbee, First Prototype Car to Have Entire Body Created with an Additive Process
  40. ^ KOR Ecologic
  41. ^ tecmundo.com.br/ Conheça o Urbee, primeiro carro a ser fabricado com uma impressora 3D]
  42. ^ The "Urbee" 3D-Printed Car: Coast to Coast on 10 Gallons November 23, 2014. Truthout
  43. ^ 3D Printed Car Creator Discusses Future of the Urbee YouTube
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