Shalom Life | August 22, 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.

Jewish Hall of Fame: Paul Allen Jewish Hall of Fame: Paul Allen TrendingIsraeli-Arab Appointed as Apple's VP of Hardware Technologies Israeli-Arab Appointed as Apple's VP of Hardware Technologies TrendingTaipei Restaurant Sells "Long Live Nazi Spaghetti" Taipei Restaurant Sells "Long Live Nazi Spaghetti" Trending
 

Ashdod Synagogue Hit By Rocket Fire

August 22, 2014 | By Ilanan Curiel
Ashdod Synagogue Hit By Rocket Fire

At least 50 rockets, mortars fired on southern Israel, with one landing near preschool and another striking an Ashdod synagogue, following violent day which saw over 100 rockets launched; IDF hit over 30 Gaza targets in response, two killed

Read More

Startup Club: Lob

August 21, 2014 | By Caitlin Marceau
Startup Club: Lob

The Sunnyvale-based startup allows even the smallest companies to have access to commercial printing and mailing services

Read More

Christian Organization Brings 500 Volunteers to Israel to Help Farmers

August 21, 2014 | By ShalomLife Team
Christian Organization Brings 500 Volunteers to Israel to Help Farmers

Organized by American Christian group HaYovel, the volunteers will work on farms throughout Judea and Samaria

Read More

Jerry Seinfeld to Receive Honorary CLIO Award

August 21, 2014 | By Ashley Baylen
Jerry Seinfeld to Receive Honorary CLIO Award

The comedian is being recognized for pushing the boundaries of creativity.

Read More

Woody Allen, Jeff Goldblum to Play Café Carlyle’s Fall Season

August 21, 2014 | By Ashley Baylen
Woody Allen, Jeff Goldblum to Play Café Carlyle’s Fall Season

The veteran film industry stars will perform jazz at New York's City famous cabaret club

Read More

Sarah Jessica Parker Takes On Ice Bucket Challenge In Front of Screaming Fans [VIDEO]

August 21, 2014 | By Ashley Baylen
Sarah Jessica Parker Takes On Ice Bucket Challenge In Front of Screaming Fans [VIDEO]

The 'Sex and the City' star completes the challenge on a hotel balcony in Texas.

Read More

Gwyneth Paltrow Takes On ALS Ice Bucket Challenge, Nominates Chris Martin [VIDEO]

August 21, 2014 | By Ashley Baylen
Gwyneth Paltrow Takes On ALS Ice Bucket Challenge, Nominates Chris Martin [VIDEO]

The GOOP blogger dumped a bucket of ice over her head while wearing a bikini.

Read More

Australian Jewish School Evacuated After Bomb Threat

August 21, 2014 | By Daniel Koren
Australian Jewish School Evacuated After Bomb Threat

200 students of King David School were moved after a reported security breach

Read More

More Headlines