Desktop 3D printing firms MakerBot and Ultimaker will merge, with the new entity receiving a cash investment of $62.4 million to fuel innovation and expand into new markets.
The combined companies will offer comprehensive product lines of hardware, software and materials that deal makers expect to accelerate the adoption of additive manufacturing.
The new entity will be led by MakerBot CEO Nadav Goshen and Ultimaker CEO Jürgen von Hollen, who will act as co-CEOs. Goshen will manage operations and R&D while von Hollen oversees commercial functions.
"This merger marks an important milestone for Ultimaker and MakerBot," von Hollen said in a news release. "Innovation and growth are both critical to bringing desktop 3D printing from a specialty technology into mainstream business adoption. The new company will leverage and expand its combined global footprint with sales and operations [globally]."
Technological innovation is paramount to increase the availability of easy-to-use professional 3D printing solutions, Goshen added.
"By combining our teams and leveraging the additional funding, we can accelerate the development of advanced solutions to provide our customers with a broad portfolio of hardware and software solutions to serve a wide spectrum of customers and applications," Goshen said.
The new company, which will have headquarter sites in both the Netherlands and U.S., is backed by existing investors, NPM Capital and Stratasys Ltd.
MakerBot is a subsidiary of Stratasys and Ultimaker is backed by NPM Capital.
As part of the deal, NPM Capital plans to contribute Ultimaker's assets, invest $15.4 million, and own 54.4 percent of the combined company. Stratasys will contribute MakerBot's assets, invest $47 million, and own 45.6 percent.
The transaction is subject to review of employee groups and regulatory approvals. It is expected to close in the second or third quarters of 2022.
In other recent related news, Clinton Township, Mich.-based Xcentric Mold and Engineering Inc. announced in April that it will outsource some 3D printing projects to Stratasys subsidiary Stratasys Direct Manufacturing, which has more than 200 industrial-grade printers at eight facilities in North America.