Shalom Life | August 23, 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: Lob Startup Club: Lob TrendingJewish Hall of Fame: Paul Allen Jewish Hall of Fame: Paul Allen TrendingTaipei Restaurant Sells "Long Live Nazi Spaghetti" Taipei Restaurant Sells "Long Live Nazi Spaghetti" Trending
 

The Ten Best Jewish Ice Bucket Challenges

August 22, 2014 | By Daniel Koren
The Ten Best Jewish Ice Bucket Challenges

From Drake to Adam Sandler, here are some of the best challenges we've seen that benefit the ALS Foundation

Read More

REVIEW: The LOT’s ‘Little Mermaid Jr’ Is Colourful, Catchy and Captivating

August 22, 2014 | By Ashley Ramnarain
REVIEW: The LOT’s ‘Little Mermaid Jr’ Is Colourful, Catchy and Captivating

The Lower Ossington Theatre's adaptation of Disney's popular 1989 film is a must-see family adventure.

Read More

7,000-Year-Old Metal Object Discovered in Israel

August 22, 2014 | By Daniel Koren
7,000-Year-Old Metal Object Discovered in Israel

The copper owl buried with a woman is the oldest piece of copper ever discovered in the Middle East

Read More

Ontario Students Pass BDS Resolultion

August 22, 2014 | By Daniel Koren
Ontario Students Pass BDS Resolultion

The Ontario branch of the Canadian Federation of Students unanimously voted to boycott Israel

Read More

Israelis Turn Bomb Shelter Into Underground Casino

August 22, 2014 | By Daniel Koren
Israelis Turn Bomb Shelter Into Underground Casino

Police find casino intact with cannabis plantation and tons of alcohol in Kiryat Gat bomb shelter

Read More

4-Year-Old Israeli Boy Dies in Mortar Attack from Gaza

August 22, 2014 | By Daniel Koren
4-Year-Old Israeli Boy Dies in Mortar Attack from Gaza

First Israeli child fatality brings death toll to 68, the first since Hamas violated ceasefire on Tuesday

Read More

Op-Ed: Losing Patience with Students for Justice in Palestine’s anti-Semitism

August 22, 2014 | By Elliot Hamilton
Op-Ed: Losing Patience with Students for Justice in Palestine’s anti-Semitism

SJP is far from the "social justice" movement it claims to be, as it partakes in some of the worst instances of anti-Semitism on college campuses

Read More

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

More Headlines