Stratasys, Ltd. (NASDAQ:SSYS), a 3D printing and additive manufacturing solutions company, announced its definitive agreement to acquire some of the assets of Interfacial Solutions, a thermoplastics R&D and production services provider based in Wisconsin.
Over the past three years, Interfacial Solutions has been a production partner of Stratasys, Ltd. (NASDAQ:SSYS) for its FDM product lines. It is also instrumental in the research and development of the thermoplastic material of the 3D printing company.
Expertise in plastics and filament
In a statement, David Reis, chief executive officer of Stratasys, Ltd. (NASDAQ:SSYS) said, “Interfacial Solutions provides significant expertise in plastics and filament.” He added that the knowledge and experience of Interfacial Solution’s team will accelerate the efforts of Stratasys in materials development in all of its FDM platforms including MakerBot.
Furthermore, Reis expects that the acquisition will enable Stratasys, Ltd. (NASDAQ:SSYS) to accomplish its three objectives including strengthening is materials R&D skills and bandwidth, becoming vertically integrated in materials development and manufacturing, and increasing materials production space capacity.
“Overall, we expect to accelerate new materials development, allowing us to introduce new products to the market faster,” said Reis.
The transaction is expected by Stratasys, Ltd (NASDAQ:SSYS) to close in the second quarter of this year.
Stratasys’ other acquisitions
Last week, Stratasys, Ltd (NASDAQ:SSYS) purchased Solid Concepts, the largest independent additive manufacturing service provider in North America and its fastest growing partner for its digital manufacturing service business RedEye.
It also acquired Harvest Technologies, a specialty additive manufacturing service provider based in Texas that focuses on advanced end use parts applications. It is the first additive manufacturing in North America to attain the AS9100/ISO 9001 certification. The company produces end-use parts for multiple industries.
Stratasys, Ltd (NASDAQ:SSYS) agreed to buy Solid Concepts for $295 million. It did not disclose the acquisition price for Harvest Technologies.
“These transactions are consistent with our core strategic imperatives and M&A strategy, which is focused on acquiring leading companies to support our goal of continued leadership in the segments in which we operate, as well as reaching new niche verticals,” according to Reis.
Stratasys, Ltd (NASDAQ:SSYS) plans to combine Solid Concepts and Harvest Technologies with RedEye to create one additive manufacturing service business unit after the closing of the transaction. The company expects to complete the deals early in the third quarter this year.