3D printing heavyweights merge

Two of the leading players in the 3D printing market have merged, with Stratasys and Objet joining forces in a $1.4 billion deal, Venture Beat reports.

The transaction between the two will position the newly combined company as a serious leader in the fast growing 3D printing and digital manufacturing industry.

The companies have long competed in the small but burgeoning 3D printing space, competing with both the “heavies” in the 3D world as well as upstarts like Makerbot, Tech Crunch writes.

Objet has long catered to manufacturers of smaller goods like Adidas, while Stratsys works with companies with more technical needs like Honeywell and BMW.

The combined company will operate under the name Stratasys, Globes reports.

It will have dual headquarters in Eden Prairie, Minnesota, and Rehovot, Israel. The company will continue to trade on Nasdaq under the ticker SSYS. Stratasys chairman and CEO Scott Crump will become chairman of the combined company. Objet chairman Elchanan Jaglom will serve as chairman of the executive committee of the combined company.