1

Stratasys

#5843

Rank

$576.9M

MarketCap IL

IL Israel

Country

Summary
Stratasys Ltd. provides connected polymer-based 3D printing solutions. It offers 3D printing systems, such as polyjet printers, FDM printers, stereolithography printing systems, and programmable photo polymerization printers for rapid prototyping, such as design validation, visualization, and communication. The company also provides 3D printing materials, including approximately FDM spool-based filament materials, polyjet cartridge-based resin materials, non-color digital materials, and color variations for use in 3D printers and production systems. In addition, it offers GrabCAD Additive Manufacturing Platform, an open and enterprise-ready software that enables manufacturers to manage production-scale additive manufacturing operations; GrabCAD Shop, which simplifies the 3D printing shop workflow; GrabCAD software development kit that provides application programming interfaces, documentation, sample code, and professional support network; and GrabCAD Workbench, a cloud-based project data management solution. Further, the company operates Thingiverse.com, an online community for sharing downloadable and digital 3D designs; and GrabCAD Community for mechanical engineers, designers, manufacturers, and students, as well as offers on-site system installation, operator training, maintenance and repair, and remote technical support services. Its products and services are primarily used in the aerospace, automotive, transportation, healthcare, consumer products, dental, medical, and educational industries. The company sells its products through a network of resellers and independent sales agents worldwide. Stratasys Ltd. was incorporated in 1989 and is headquartered in Eden Prairie, Minnesota.

History

Stratasys was founded in 1989, by S. Scott Crump and his wife Lisa Crump in Eden Prairie, Minnesota. The idea for the technology came to Crump in 1988 when he decided to make a toy frog for his young daughter using a glue gun loaded with a mixture of polyethylene and candle wax. He thought of creating the shape layer by layer and of a way to automate the process. In April 1992, Stratasys sold its first product, the 3D Modeler.In October 1994, Stratasys had an initial public offering on NASDAQ; the company sold 1.38 million shares of common stock at $5 per share, netting approximately $5.7 million.In January 1995, Stratasys purchased IBM's rapid prototyping intellectual property and other assets and employed 16 former IBM engineers, who had been developing a small 3-D printer that relied on an extrusion system very similar to Crump's patented fused deposition modeling technology.In 2003, Stratasys fused deposition modeling was the best-selling rapid prototyping technology. FDM is a process that the company patented, which is used to produce three-dimensional parts directly from 3D CAD files layer-by-layer for use in design verification, prototyping, development and manufacturing.

In 2007, Stratasys supplied 44% of all additive fabrication systems installed worldwide, making it the unit market leader for the sixth consecutive year.In January 2010, Stratasys signed an agreement with HP to manufacture HP-branded 3D printers. In August 2012, the HP manufacturing and distribution agreement was discontinued.

In May 2011, Stratasys announced that they had acquired Solidscape, a leader in high-precision 3D printers for lost wax casting applications.In 2012, Defense Distributed, an unrelated project to produce a working firearm by 3D printing, was intended to use a Stratasys printer. Stratasys refused to permit this and withdrew its license for use of the printer, citing that it did not allow its printers "to be used for illegal purposes".In 2014 the Israeli fashion designer Noa Raviv featured grid pattern centered couture garments which were created employing Stratasys' 3D printing technology. Some selections from the aforementioned collection were exhibited in 2016 at the exhibition "Manus X Machina" at the Anna Wintour Costume Center at New York City's Metropolitan Museum of Art.In 2019, the J750 model was recognized as the Enterprise 3D Printer of the Year in the polymer printer category at the 2019 3D Printing Industry Awards in London, England.

Merger with Objet

On April 16, 2012, Stratasys announced that it agreed to merge with privately held Objet Ltd., a leading manufacturer of 3D printers based in Rehovot, Israel, in an all-stock transaction. Stratasys shareholders were expected to own 55 percent of the combined company, and Objet shareholders would own 45 percent. The merger was completed on December 3, 2012; the market capitalization of the new company was approximately $3.0 billion.

Acquisition of MakerBot, Solid Concepts and Harvest Technologies

On June 19, 2013, MakerBot Industries announced that it was purchased by Stratasys for $403 million.On April 2, 2014, Stratasys announced that they had entered into definitive agreements to acquire Solid Concepts and Harvest Technologies, which will be combined with RedEye, its existing digital manufacturing service business, to establish a single additive manufacturing services business unit. The acquisition was finalized on July 15, 2014.On May 12, 2022, MakerBot and Ultimaker announced plans to merge. The new single company is to be backed by NPM Capital and MakerBot-owner Stratasys and co-led by existing CEOs Nadav Goshen and Jürgen von Hollen.

Investment in Massivit 3D

On February, 2016, Stratasys announced an investment in Israeli company Massivit 3D Printing Technologies to promote and deploy Massivit 3D's proprietary super-sized 3D printing solutions.

Investment in Inkbit

On November 4, 2016, Inkbit announced that Stratasys led an equity funding round with DSM Venturing to propel production of its Vision-based, artificial intelligence additive manufacturing platform.

Acquisition of Origin

On December 9, 2020, Stratasys announced a deal to acquire San Francisco-based Origin for $100 million. The acquisition was finalized on December 31, 2020.On April 27, 2021, Stratasys announced the Stratasys Origin One, an updated version of the Origin One 3D Printer targeted towards production applications.

Acquisition of Xaar 3D

In 2021, Stratasys acquired the outstanding shares of Xaar 3D, which Stratasys purchased from Xaar. Xaar 3D provides 3D printers using SAF Selective Absorption Fusion technology, a type of powder bed fusion. This technology is designed to 3D print polymer production parts at volume. The first printer used the technology is called the H350.

Acquisition of RPS

In 2021, Stratasys announced the acquisition of RP Support Ltd. , which makes large stereolithography 3D printers.

Acquisition of Riven

In October 2022, Stratasys acquired the Berkeley-headquartered quality assurance software company Riven.


Mission
We provide the best products, services and support great thinking deserves. Giving your ideas the best possible chance of making it.

Vision
To become the leading provider of 3D printing solutions and enable customers to unlock the potential of their ideas.

Key Team

Mr. Omer Krieger (Exec. VP of Product Strategy & Corp. Devel.)

Mr. Eitan Zamir (Chief Financial Officer)

Mr. Yossi Azarzar (Chief Operating Officer)

Mr. Richard Garrity (Chief Industrial Bus. Officer)

Mr. Guy Yair (ROW Pres)

Mr. Yonah Lloyd (CCO & VP of Investor Relations)

Mr. Guy Menchik (Chief Technology Officer)


Recognition and Awards
Stratasys has won numerous awards for its products, including the 2014 CES Innovation Award, the 2014 Red Dot Design Award, and the 2014 Medical Design Excellence Award.

References
Stratasys
Leadership team

Mr. Yoav Zeif (Chief Exec. Officer)

Mr. David Reis (Vice Chairman)

Mr. S. Scott Crump (Co-Founder & Director)

Products/ Services
3D Printing, Manufacturing, Product Design
Number of Employees
1,000 - 20,000
Headquarters
Eden Prairie, Minnesota, United States
Established
1988
Company Registration
SEC CIK number: 0001517396
Revenue
500M - 1B
Traded as
SSYS
Social Media
About

Businessabc provides a digital business directory, resources, a marketplace, and a digital blockchain AI certification for businesses, organisations, and professionals.

Follow Us
Produced by
In collaboration with
Logo

Copyright 2023 © Businessabc powered by ztudium