Shalom Life | July 26, 2014

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.

Before Songza, Google Tried to Buy Spotify Before Songza, Google Tried to Buy Spotify TrendingIsraeli Women Bare All to Support the IDF Israeli Women Bare All to Support the IDF TrendingTrending: #JewsAndArabsRefuseToBeEnemies Trending: #JewsAndArabsRefuseToBeEnemies Trending
 

Lena Dunham and Andy Samberg Team Up For HBO Mockumentary

July 25, 2014 | By Ashley Baylen
Lena Dunham and Andy Samberg Team Up For HBO Mockumentary

The 'Girls' and 'Brooklyn Nine-Nine' stars will appear in an upcoming sports mockumentary.

Read More

Joan Rivers Staunchly Defends Israel, Insults Selena Gomez [VIDEO]

July 25, 2014 | By Ashley Baylen
Joan Rivers Staunchly Defends Israel, Insults Selena Gomez [VIDEO]

The controversial comedian slammed Gomez for her #PrayForGaza tweet

Read More

The Ten Best Seinfeld Memes

July 25, 2014 | By Caitlin Marceau & Daniel Koren
The Ten Best Seinfeld Memes

We look at some of the most entertaining memes inspired by the iconic TV show

Read More

Jesse Eisenberg Feels Safe In Israel, Calls It "A Wonderful Country"

July 25, 2014 | By Ashley Ramnarain
Jesse Eisenberg Feels Safe In Israel, Calls It "A Wonderful Country"

The 'Social Network' star recently visited for a Q&A at Beit Lessin Theatre

Read More

James Franco Outs His Brother Dave, Tells Internet He's Dating Zac Efron

July 25, 2014 | By Ashley Ramnarain
James Franco Outs His Brother Dave, Tells Internet He's Dating Zac Efron

The 'Neighbors' co-stars are apparently in a serious relationship, according to a very unreliable gossip site

Read More

Guess what Canada? Daniel Radcliffe is Stuck Here Due To Visa Issues

July 25, 2014 | By Ashley Ramnarain
Guess what Canada? Daniel Radcliffe is Stuck Here Due To Visa Issues

Torontonians should be on the look out for the former 'Harry Potter' star

Read More

Shia LaBeouf Arrives in Court For 'Cabaret' Incident

July 25, 2014 | By Ashley Ramnarain
Shia LaBeouf Arrives in Court For 'Cabaret' Incident

The former 'Transformers' actor appeared unshaven in a suit to face charges for criminal trespass, disorderly conduct and harassment

Read More

Cupcake Truck Calls Israelis "Zionist Pigs"

July 25, 2014 | By Hugh Holt
Cupcake Truck Calls Israelis "Zionist Pigs"

New York-based Cupcake Crew, a finalist on Cupcake Wars, tweet some rather offensive comments

Read More

More Headlines