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April 18, 2012

On April 16, 2012 Stratasys, Inc., and privately held Objet Ltd., announced that the boards of directors of both companies have approved a definitive merger agreement with a combined equity value of approximately $1.4 billion.

In Stratasys and Objet Investor Presentation there are some interesting figures:

Companies fast facts:

Objet:
- More than 2,800 customers
- Only technology with multi-material 3D printing capability
- revenue: 2011 revenue $121.1m, 2009 – 2011 CAGR 34%; 2011 net income $14.7m
- More than 430 employees

 

Stratasys:
- revenue: 2011 revenue $156m, 2009 – 2011 CAGR 98%; 2011 net income $22m

Key deal highlights after Combining:

Company name: Stratasys Ltd. Listing: NASDAQ: SSYS

Merger Structure: a stock-for-stock merger

Ownership: 55% owned by Stratasys; 45% by Objet

Management: Blended management team led by Scott Crump as full-time
Chairman, and current Objet CEO, David Reis, as the new CEO of the combined organization

Headquarters: Dual headquarters in Israel and Minnesota

Technology: More than 500 patents granted and pending

Operating and tax synergies:
– $7m to $8m of annual net cost synergies
– $3m to $4m of annual tax savings

Long-term target operating model:
– Revenue growth: 20%+
– Operating margin: 20% to 25% of sales
– Effective tax rate: 15% to 20%
– Net income margin: 16% to 21% of sales

 

Source: Stratasys and Objet Investor Presentation

 

Posted in 3D Printing Company

 

 

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