EDEN PRAIRIE, MN – 3D printer manufacturers Stratasys and Objet said they would merge in an all-stock transaction with an equity value of approximately $1.4 billion.

Under the agreement, Stratasys said it would merge with a subsidiary of Objet, with Stratasys shareholders receiving one share of the new combined company for each share of Stratasys common stock they own. 

Upon closing of the transaction, Stratasys shareholders are expected to own 55% and Objet shareholders are expected to own 45% of the combined company. 
The combined company will operate under the name Stratasys Ltd. and will have dual headquarters in Eden Prairie, MN, and Rehovot, Israel. 

Scott Crump, cofounder, current CEO and chairman of Stratasys will become full-time chairman of the combined company. 

David Reis, current CEO of Objet, will become CEO of the combined company. 

Today, Stratasys also announced preliminary financial results for the first quarter ended Mar. 31. The firm expects to report revenue of approximately $45 million, up 31% year-over-year. Stratasys also expects to report GAAP net income of approximately $4.3 million to $4.7 million, compared with $5 million during the same period last year.

Ed: See this month's 3D Printing PCBs article here: http://pcdandf.com/cms/component/content/article/171-current-issue/8902-board-fabrication.