Objet Ltd, the Israel-based 3D printers maker is holding acquisition talks with a large electronics company, reported by Calcalist news. Beneficiaries are expected to be the investor Ilan Levin and billionaire Allen Yaglom.
The price mentioned in the negotiation is half a billion dollars. An industry source estimated that one of the companies interested in Objet is HP, which works closely with Objet for years.
Objet's largest shareholder is chairman and managing director of CellGuide, Ilan Levin, who is also former partner in Eurofund. Levin has invested personal funds as well as funds on behalf of Swiss-Israeli billionaire Elan Jaglom in Objet.
Objet was incorporated in 1998 in Israel by Rami Bonen, Don Miller and Hanan Gotaiit. Its printers adopt exclusive inkjet technology, resin supplies and integrated software to directly print the computer data into 3D models. Objet provide services and products to more than 2800 customers, covering a variety of industries such as automobile manufacturing (Volkswagen, General Motors), consumer electronics(Apple), medicine (Boston Scientific), toys (Hasbro), and sport products (Adidas).
Adidas, Apple and General Motors use 3D printers to quickly create prototypes of model or spare part before production. It is said Objet helped former Apple CEO Steve Jobs making prototypes of the iPhone design using Objet printers. Director James Cameron also used an Objet printer when making his Avatar.
Objet generated revenues of $121.1 million in 2011, an increase of 38% compared with the previous year; net profit rose 42% to $15 million. 3D printer sales soared 63% to 929 units. In addition, 40% of the Objet's revenues derived from the resin designs and 13% came from services.
It is said that when former Apple CEO Steve Jobs contemplated the iPhone design, he used several prototypes produced by an Objet printer. Director James Cameron also used an Objet printer when making his blockbuster Avatar.
Objet gave no comment to this news.
Two days ago, it is announced Objet is looking to raise up to USD75m (EUR57m) through the issue of Class A common stock, according to the filing with the US Securities and Exchange Commission. Objet has applied for its shares to be listed on the Nasdaq stock exchange under the ticker symbol OBJT, the filing showed. Objet is backed by Samson Capital LLC and Roy Zuckerberg, an ex-Goldman Sachs partner. JP Morgan (NYSE:JPM), Goldman Sachs & Co (NYSE:GS) and Needham & Co have been appointed to act as underwriters to the US initial public offering (IPO) of Objet Ltd.
Posted in 3D Printing Company
Maybe you also like:
- Time Magazine calls Makerbot CEO a game changer (video)
- Extraordinary demand for the ModMyPi 3D printed Raspberry Pi cases
- Introducing Cartesio CNC/3D printer kit
- Customizable Maxifab 3d Printing Framework with user determined build volume
- ORD Bot 3D printers and MakerSlide available for pre-order
- Affordable Blueprinter SHS 3D printer for desktop sintering
- Model chess set with Tinkercad to win a Makerbot Replicator
- 3D printing joins revolution in medical industry
- 3D-Printed Universal Adapter set connects construction toys to each other
- EnvisionTEC support Aardman 3D printing 7,000 parts in its latest Pirates! film
- 3D printed Hand Robot InMoov
- ABN AMRO sees big future in 3D printing
- 3D printed Apple accessories from Curve Creative
- 3D printing a perfect replacement part for dishwasher
- Mcor Technologies celebrates St. Patrick's Day and ready to enter US Market