Stratasys to Buy Covestro’s 3D Printing Materials Biz for €43M
Polymer 3D printing solutions company Stratasys has begun a deal to acquire the additive manufacturing materials business of Covestro at a price of about €43 million ($43.8 million).
The transaction includes R&D facilities and teams in Europe, the U.S., and China, a portfolio of about 60 additive manufacturing materials, and an IP portfolio of hundreds of patents and patents pending.
Covestro was a key part of Stratasys’ third-party materials ecosystem. Stratasys already distributes Covestro’s Somos resins, which are already available for Neo stereolithography and Origin One 3D printers. The new materials gained will also benefit those using Origin P3 and H350 printers.
“Innovative materials are the fuel of additive manufacturing and translate directly into the ability to create new use cases for 3D printing, particularly in the production of end-use parts like dental aligners and automotive components,” Stratasys CEO Dr. Yoav Zeif told the press. “The acquisition of Covestro’s highly regarded Additive Manufacturing business positions us to further grow adoption of our newest technologies. We will now have the ability to accelerate cutting-edge developments in 3D printing materials, and advance our strategy of providing the best and most complete polymer 3D printing portfolio in the industry.”
The deal is expected to close in Q1 2023. Most of the employees of the Covestro business will continue to be based in Geleen, Netherlands and Elgin, Ill.
Article source: MPO