Shalom Life | September 02, 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.

Startup Club: Yevvo Startup Club: Yevvo TrendingJewish Hall Of Fame: Mikhail Prokhorov Jewish Hall Of Fame: Mikhail Prokhorov TrendingZara Discontinues ‘Concentration Camp’ Shirts After Social Media Uproar Zara Discontinues ‘Concentration Camp’ Shirts After Social Media Uproar Trending
 

Lea Michele to Join Season 4 of ‘American Horror Story’?

September 01, 2014 | By Ashley Baylen
Lea Michele to Join Season 4 of ‘American Horror Story’?

The 'Glee' actress is rumored to join 'American Horror Story: Freak Show'.

Read More

Melissa Rivers is “Keeping Fingers Crossed” For Joan’s Recovery

September 01, 2014 | By Ashley Baylen
Melissa Rivers is “Keeping Fingers Crossed” For Joan’s Recovery

The 81-year-old comedian has been in a medically induced coma since Friday.

Read More

Lena Dunham: Leaking Nude Photos is a Sex Offense

September 01, 2014 | By Ashley Baylen
Lena Dunham: Leaking Nude Photos is a Sex Offense

The 'Girls' creator urges her fans not to look at the recently leaked nude photos of fellow celebrities.

Read More

Jewish ‘Hoops Whisperer’ A Secret Weapon For NBA Stars

September 01, 2014 | By Robert Gluck
Jewish ‘Hoops Whisperer’ A Secret Weapon For NBA Stars

Idan Ravin's new book, "The Hoops Whisperer: On the Court and Inside the Head of Basketball's Best Players," details his rise from a Jewish upbringing to becoming a well-respected figure in NBA circles

Read More

Israeli Company Hopes to Find Real Treatment for ALS

September 01, 2014 | By Maya Yarowsky and Anouk Lorie, NoCamels
Israeli Company Hopes to Find Real Treatment for ALS

BrainStorm looks beyond the Ice Bucket Challenge to treat Lou Gehrig's Disease with their NurOwn treatment

Read More

An Amulet a Son Gave to His Mother During the Holocaust Has Been Uncovered

September 01, 2014 | By Itamar Aichner, Yedioth Aharonot
An Amulet a Son Gave to His Mother During the Holocaust Has Been Uncovered

Unearthed in the ruins of the Lodz ghetto, the amulet reads 'With love, Avram'

Read More

What You Missed in the News: August 25 - September 1

September 01, 2014 | By Daniel Koren
What You Missed in the News: August 25 - September 1

Our Top Stories this week SodaStream, Howard Stern, Curb Your Enthusiasm, ReWalk, Shoes by Jews, and more

Read More

The Ten Best Curb Your Enthusiasm Episodes

August 29, 2014 | By Caitlin Marceau & Daniel Koren
The Ten Best Curb Your Enthusiasm Episodes

While Season 9 may be a mere fallacy, we do have 8 seasons of Larry David's hilariously awkward comedy to keep us company

Read More

More Headlines