Shalom Life | December 18, 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.

Harvard Suspends Purchases from SodaStream after anti-Israel Pressure Harvard Suspends Purchases from SodaStream after anti-Israel Pressure TrendingThis Israeli-Designed Belt Protects Against Radiation Exposure This Israeli-Designed Belt Protects Against Radiation Exposure TrendingStudy: Israeli Teens Encounter More Hate Online Study: Israeli Teens Encounter More Hate Online Trending
 

Top 50 Hottest Jewish Women of 2014 (40-31)

December 18, 2014 | By Ashley Baylen
Top 50 Hottest Jewish Women of 2014 (40-31)

Join Shalom Life in celebrating the 50 most talented, intelligent, funny, and beautiful Jewish women of the year.

Read More

Breakthrough Jew: OB O'Brien

December 18, 2014 | By Sara Torvik
Breakthrough Jew: OB O'Brien

The recent signee to Drake's OVO label is looking to put Hamilton on the rap

Read More

HBO Picks Up Sarah Silverman's Comedy Pilot

December 18, 2014 | By Daniel Koren
HBO Picks Up Sarah Silverman's Comedy Pilot

The comedian will also serve as an executive producer on the show

Read More

Sorry Guys, Theaters Will NOT Be Showing 'Team America: World Police' in Lieu of 'The Inteview'

December 18, 2014 | By Daniel Koren
Sorry Guys, Theaters Will NOT Be Showing 'Team America: World Police' in Lieu of 'The Inteview'

Paramount has cancelled all theater showings of the Trey Parker & Matt Stone flick with an incredibly similar premise to that of James Franco & Seth Rogen's

Read More

Presenting the Hasidic "Shake It Off" Hanukkah Parody [VIDEO]

December 18, 2014 | By Daniel Koren
Presenting the Hasidic "Shake It Off" Hanukkah Parody [VIDEO]

Appropriately titled "I'm Taking Off"

Read More

Israeli Study: Kids Start Enjoying the Misfortune of Others At Very Early Age

December 18, 2014 | By NoCamels Team
Israeli Study: Kids Start Enjoying the Misfortune of Others At Very Early Age

Study conducted by the University of Haifa found evidence of 'schadenfreude' in two-year-olds

Read More

Harvard Suspends Purchases from SodaStream after anti-Israel Pressure

December 18, 2014 | By JNS.org
Harvard Suspends Purchases from SodaStream after anti-Israel Pressure

The decision was made after two pro-Palestinian groups filed complaints

Read More

Historic Six-Day War Photo Recreated at Western Wall

December 18, 2014 | By Hen Kotes-Bar
Historic Six-Day War Photo Recreated at Western Wall

Three soldiers captured on camera just after Jerusalem's Old City was taken in 1967 return to scene some 47 years with the same photographer

Read More

More Headlines