Stratasys to Acquire Covestro's Additive Manufacturing Materials Business for EUR 43m.
MANews-(C)2009-2022
US and Israel-based polymer 3D printing solutions provider Stratasys Ltd. (NASDAQ: SSYS) has agreed to acquire the additive manufacturing materials business of Germany based Covestro AG (DAX: 1COV) for approximately EUR 43m (USD 43.8m), the company said.
In addition to the purchase price, there is a potential earnout of up to EUR 37m (USD 37.7m), the company said.
The acquisition is expected to be immediately accretive upon closing.
It will include R and D facilities and activities, global development and sales teams across Europe, the US and China, a portfolio of approximately 60 additive manufacturing materials, and an extensive IP portfolio comprised of hundreds of patents and patents pending.
The acquisition will expand materials development offerings.
Covestro...
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