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Stratasys Signs Agreement to Acquire Covestro’s Additive Manufacturing Materials Business

Accretive acquisition will enable Stratasys to offer more full solutions to customers and accelerate next-generation materials development for manufacturing with partners

Stratasys will expand its differentiated materials offering in stereolithography, DLP, and powders, supported by a broad IP portfolio

Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions, announced today it has signed a definitive agreement to acquire the additive manufacturing materials business of Covestro AG (DAX: 1COV). The acquisition is expected to be immediately accretive upon closing. It will include R&D facilities and activities, global development and sales teams across Europe, the U.S. and China, a portfolio of approximately 60 additive manufacturing materials, and an extensive IP portfolio comprised of hundreds of patents and patents pending. The purchase price is approximately 43 million euros, plus additional inventory, less certain liabilities. In addition, there is a potential earnout of up to 37 million euros, subject to the achievement of various performance metrics.
www.stratasys.com

 

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