Sep 16, 2014

Leading 3D printer provider Stratasys today announced that it has entered into a definitive agreement to acquire privately-held GrabCAD. Terms of the transaction were not disclosed. According to TechCrunch, the amount of the deal is in the region of nine figures, and around $100 million.

The transaction is expected to be completed by the end of September. Upon completion of the transaction, GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group. Hardi Meybaum, Co-founder and Chief Executive Officer of GrabCAD, will continue to lead GrabCAD within the group.

This is Stratasys' latest acquisitions, others include MakerBot in 2013 for $403 million, and Solid Concepts earlier this year for $295 million.

GrabCAD CEO Hardi Meybaum

Founded in 2010 and led by Mr. Meybaum, a visionary entrepreneur and pioneer in 3D CAD cloud collaboration tools, GrabCAD is an online community of more than 1.5 million members from around the world who can access a large public CAD file library as well as connect with other engineers. GrabCAD Workbench makes it easy for engineers to share files, work with partners and complete projects on time. The company has received $13.6 million in funding across six rounds from 13 investors, including Matrix Partners and Charles River Ventures, according to TechCrunch. GrabCAD is headquartered in Boston, MA with development offices in Estonia and the UK.

The acquisition is expected to enable Stratasys to provide its customers with enhanced collaboration tools and improved accessibility relating to 3D CAD content.

"The addition of GrabCAD provides Stratasys with a leading cloud-based collaboration platform for engineering teams to manage, share and view CAD files," said David Reis, Stratasys Chief Executive Officer. "By increasing the collaboration and accessibility of 3D CAD files, we believe we can further accelerate the adoption of 3D printing solutions and Stratasys' product offerings. Together with GrabCAD, we believe that we will accelerate innovation and provide increased value to a growing universe of customers seeking to utilize 3D printing solutions."

Stratasys is currently valued at over $6 billion. Through its acquisition of GrabCAD, Stratasys expects to gain:

• Knowledge: With the addition of GrabCAD, Stratasys gains an industry leading team of software professionals with a deep understanding of the needs of designers and engineers.

• Products: GrabCAD's cloud-based collaboration platform, Workbench, will enable Stratasys to offer customers a solution to drive communication and ease of use throughout the design and 3D printing process. GrabCAD also provides Stratasys with the opportunity to further partner with CAD vendors and other ecosystem partners while offering innovative collaboration tools related to 3D CAD.

• Community: GrabCAD has built a global, leading and fast growing community of mechanical engineers and designers, with 1.5 million users who are passionate about design. This includes a large online community of M-CAD users and a significant public online repository of free CAD files, with more than 500,000 CAD designs available for download and nearly 50,000 file downloads per day.

"GrabCAD was founded to bring the world's engineers together and help them collaborate to bring better products to market faster," said Hardi Meybaum, Chief Executive Officer of GrabCAD. "By joining forces with Stratasys, a global leader in 3D printing and additive manufacturing, we believe we can extend the reach of one of the most exciting and innovative design collaboration technologies available. With its broad and growing customer base and worldwide presence, Stratasys can provide more customers around the world with exciting new solutions to meet their design needs."


Posted in 3D Printing Company

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AntiStratasys wrote at 9/17/2014 12:17:33 AM:

This is just wrong, you all know what happens with makerbot now grabcad. Time to delete my account and take with near 100 of CAD models.

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