Stratasys Acquires GrabCAD Inc.

Stratasys Ltd. , a global provider of 3D printing and additive manufacturing solutions, announced that it has entered into a definitive agreement to acquire privately held GrabCAD Inc. in an all-cash transaction.

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Stratasys Ltd. , a global provider of 3D printing and additive manufacturing solutions, announced that it has entered into a definitive agreement to acquire privately held GrabCAD Inc. in an all-cash transaction. Terms of the transaction were not disclosed.  The transaction is expected to be completed by the end of September 2014. Upon completion of the transaction, GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group. Hardi Meybaum, co-founder and CEO of GrabCAD, will continue to lead GrabCAD within the group.

The acquisition is expected to enable Stratasys to provide its customers with enhanced collaboration tools and improved accessibility relating to 3D CAD content. The addition of GrabCAD Workbench provides Stratasys with an opportunity to drive communication and ease of use throughout the 3D printing process and grow its technology solutions and user communities.

“The addition of GrabCAD provides Stratasys with a leading cloud-based collaboration platform for engineering teams to manage, share and view CAD files,” says David Reis, Stratasys CEO. “By increasing the collaboration and accessibility of 3D CAD files, we believe we can further accelerate the adoption of 3D printing solutions and Stratasys’ product offerings. Together with GrabCAD, we believe that we will accelerate innovation and provide increased value to a growing universe of customers seeking to utilize 3D printing solutions. We also welcome GrabCAD's active and important community to the Stratasys family. The potential within our 3D ecosystem is very exciting.”