3D printing

Stratasys Is Acquiring MakerBot for $403M in Stock

"I am excited about the opportunities this combination will bring to our current and future customers.”
Cutting the Ribbon at MakerBot's new Sunset Park facility

Cutting the Ribbon at MakerBot’s new Sunset Park facility

First Tumblr, and now comes another sizable New York City exit. Turns out the whimsical MakerBot won’t be raising a round, after all, because the desktop 3D-printing startup is being acquired by publicly traded behemoth Stratasys, for $403 million in stock. (Of course, that’s just the initial value, based on today’s $84.60 closing price for shares of Stratasys stock.) Stakeholders qualify for additional performance-based earnouts, with an initial total value of $201 million.

That’ll pay for a whole lot of puppets!

Stratasys said in their announcement they expect the team-up to “drive faster adoption of 3D printing for multiple applications and industries, as desktop 3D printers are becoming a mainstream tool across many market segments.” Then there’s the fact that Stratasys specializes in massive, industrial-scale printers, and they surely don’t want to get tripped up by the old innovator’s dilemma.

MakerBot will supposedly continue to operate independently, with its current management, as a separate subsidiary. The company, by the way, has sold more than 22,000 3D printers since 2009–11,000 of them Replicator 2s.

MakerBot CEO Bre Pettis said in a statement:

 “We have an aggressive model for growth, and partnering with Stratasys will allow us to supercharge our mission to empower individuals to make things using a MakerBot, and allow us to bring 3D technology to more people.  I am excited about the opportunities this combination will bring to our current and future customers.”

Sounds like investors have reason to be excited, too: The company had raised around $10 million in venture capital, plus $1.2 million from angels. The Wall Street Journal reported recently that the company did $10 million in revenue last year and expects to clear $50 million in 2013.

Okay, so who’s up next?

Follow Kelly Faircloth on Twitter or via RSS. kfaircloth@observer.com