Shalom Life | July 28, 2015

3D Printing Giant Created with Merger of Israel's 'Objet' and America's 'Stratasys'

Merger will create a 3D printing company with an estimated value of $1.4 billion

By: Tiffany Stelman

Published: April 17th, 2012 in Business » Israel

3D Printing Giant Created with Merger of Israel's 'Objet' and America's 'Stratasys'

Israeli 3D printer company Objet announced yesterday that it will merge with its American counterpart Stratasys. The merger will create a 3D printing giant with an equity value of approximately $1.4 billion.

The new company will operate under the name Stratasys Ltd. and will have dual headquarters in Minnesota, and Rehovot, Israel.

Both Objet and Stratasys develop and manufacture 3D printers, which are mainly used to produce prototypes of products in a range of industries. Following the deal, Objet will be valued at $630 million.

“We are excited to be joining forces with Stratasys,” said David Reis, the company’s CEO. “This transaction creates an organization that will provide a broad range of rapid prototyping and direct digital manufacturing applications to our customers, and the ability to bring exciting new products to the market.”

Printing prototypes

Since it was founded 14 years ago, Objet became one of the world’s leaders in the 3D printers market. This niche of three dimensional printers serves primarily industrial companies that operate production lines. During the process, the printer applies a layer of polymer made out of plastic or metal which after a few hours creates fully-functional, flexible and accurate prototypes.

Objet’s holds a range of over 60 3D printing materials which have been adopted by manufacturers in many fields, including automotive, electronics, toys, consumer goods, jewelry and footwear.

Avoiding re-production costs

The price of such a printer starts at $10,000 and can reach up to $400,000. Adidas, Apple and General Motors use these printers to quickly create a prototype of a model or a spare part before production, in order to avoid mistakes during production or after it, thus saving the cost of re-production.

According to sources in the industry, former Apple CEO Steve Jobs used Objet’s prototypes when he was wondering about the design of the iPhone, so did James Cameron in his blockbuster movie “Avatar.”

The company was founded in 1998 by Rami Bonen, Gershon Miller and Hanan Gotaiit. Today Objet employs approximately 300 people at its headquarters in Rehovot, Israel. The company also has offices near Boston and in Hong Kong, Shanghai, Tokyo, Rheinmünster and Gurgaon, India.

According to research site IVC, it received about $28M from a long list of largely anonymous investors, including their key investor Elan Jaglom (35%), TDA foundation and Leon Recanati.

According to assessments, Objet’s annual revenue stands at $120-$150 million, and has been profitable for many years. According to IBIS world, the global 3D printer market totaled $1.4 billion in 2011, and is set to double by 2016.

This article is reprinted with permission from NoCamels.

Israeli Startups Set New All-Time Record, Raise $1.12 Billion In Last Three Months Israeli Startups Set New All-Time Record, Raise $1.12 Billion In Last Three Months TrendingTel Aviv Professor Says Newly Discovered Earth-Like Planet is too Far Away to Understand Tel Aviv Professor Says Newly Discovered Earth-Like Planet is too Far Away to Understand TrendingGoogle removes Hamas app from Android store Google removes Hamas app from Android store Trending
 

Israeli Startups Set New All-Time Record, Raise $1.12 Billion In Last Three Months

July 28, 2015 | By Einat Paz-Frankel, NoCamels
Israeli Startups Set New All-Time Record, Raise $1.12 Billion In Last Three Months

179 Israeli startup and high-tech companies exceed former record set in 2014

Read More

Teva to Buy Out Allergan in $40 Billion Deal

July 28, 2015 | By Maria Cruz
Teva to Buy Out Allergan in $40 Billion Deal

The pharmaceutical giant just made a deal with the Dublin-based company

Read More

Indian President Pranab Mukherjee to make Historic Visit to Israel

July 28, 2015 | By JNS.org
Indian President Pranab Mukherjee to make Historic Visit to Israel

Many are hailing the visit as a further illustration of the growing ties between the two countries

Read More

Obama Responds to Huckabee’s Holocaust Comparison

July 28, 2015 | By Maria Cruz
Obama Responds to Huckabee’s Holocaust Comparison

The "ridiculous" comments have now been addressed by the president himself

Read More

Over 10,000 Israelis Arrive to See Chris Brown

July 28, 2015 | By Amit Cotler
Over 10,000 Israelis Arrive to See Chris Brown

Brown puts on energetic show in Rishon LeZion

Read More

WATCH: Every Time Jon Stewart Has Done, or Said, Something Jewish

July 28, 2015 | By Maria Cruz
WATCH: Every Time Jon Stewart Has Done, or Said, Something Jewish

With the help of Senator Schumer, Stewart remembers his heritage in a hilarious way

Read More

This Israeli City Is Not Having Any of Nicki Minaj’s Butt

July 28, 2015 | By Maria Cruz
This Israeli City Is Not Having Any of Nicki Minaj’s Butt

Nahariya has just released a list of songs they're permanently banning, including Jason Derulo, Robin Thicke, and others

Read More

Between 800 to 900 People are Homeless in Israel

July 28, 2015 | By Daina Goldfinger
Between 800 to 900 People are Homeless in Israel

Members of Knesset discuss solutions that could be implemented to help the homeless

Read More

More Headlines