Sep 9, 2016 | By Tess

Australian mineral exploration company Falcon Minerals has just announced that it will be acquiring 100% of American 3D printer manufacturer Robo 3D. Previously, Falcon Minerals had announced it would become a majority shareholder in the 3D printer company (with 51% of the company’s shares) but now a revised agreement has resulted in a full acquisition of the 3D printer manufacturer.

The deal essentially stipulates that Falcon Minerals will acquire 100% of Albion 3D (an investment vehicle) on a debt free basis. Albion 3D for its part, has secured the rights to acquire 100% of Robo 3D, meaning that the ASX listed minerals company will own 100% of Robo 3D. In total, Albion 3D has invested $2.5 million into Robo 3D leading up to the acquisition. According to Falcon Minerals, the company will change its name to Robo 3D Technologies Limited once the deal is complete.

Braydon Moreno and Coby Kabili, Co-Founders of Palo Alto-based Robo 3D, said of the acquisition: “We are really excited about the opportunity for Robo 3D to be listed on the ASX. This is the start of a new journey that will allow us to invest in growing out the business, advancing consumer 3D printing technology, and fulfilling our goal of putting 3D printers in millions of homes around the world.” As part of the new deal, Moreno, Kabili and other executives from Robo 3D will hold equity stakes in Falcon Minerals.

Robo 3D was founded in 2012 and has since grown to become a recognized manufacturer of desktop 3D printers. In fact, the company has stated from June 2015 to June 2016, it experienced a revenue growth of about $4.6 million, almost double what it had experienced of the previous comparative period. Currently, the majority of Robo 3D’s revenue comes from online sales channels, though the company is hoping to establish a more prominent presence in retailers like Best Buy, Costco, Staples, Target, Walmart, and Gamestop. In fact, Robo 3D launched its Robo 1+ 3D printer at Staples, Inc., one of the world’s largest office supply retailer chains, in May of this year.

With the new acquisition by Falcon Minerals will come an inevitable corporate re-branding of both companies. Additionally, Robo 3D is expected to launch two new 3D printer models—the Robo C2 and Robo R2—in the last quarter of 2016, which are supposed to “drive the growth ambitions of Robo 3D”.

Finally, as part of the transaction, Falcon Minerals is set to initiate a Capital Raising to raise at least AUD $4 million. Forrest Capital has been selected as Corporate Advisor for the Capital Raising.



Posted in 3D Printer



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