Stratasys and Objet complete merger
High-tech printing firms Stratysys and Objet have announced the completion of their merger.
Printing firms Stratasys and Objet have completed their merger, it has been announced.
The coming together of the two firms, to be jointly based in Minnesota and Rehovot, Israel, will create a firm that can lead the way in 3D printing and direct digital manufacturing, the companies stated, with a combined value of $3 billion (£1.86 billion).
Trading under the name of Stratasys Ltd, the company will be traded on the NASDAQ stock exchange.
Business negotiations were aided by a number of legal and financial advisors, the announcement noted.
Commenting on the deal, Stratysys chief executive officer David Reis stated: "We are excited to move forward as one company and deliver the benefits this combination creates for our shareholders, our customers and our employees."
The original Stratysys firm posted record quarterly financial results on November 2nd, with its revenues of $49.7 million in the three months to September 30th 2012 representing a 24 per cent increase on the 2011 figure of $40 million.