Stratasys finalized its acquisition of Origin, a company that has created a manufacturing-grade 3D printer that uses programmable photo-polymerization. The acquisition is expected to accelerate Stratasys’s growth rate in 2021, which bodes well for a company that has pushed to expand its market and media share in a tough 2020.
Stratasys share prices dipped as low as $11.89 in 2020 as the COVID-19 recession halted most corporate growth. Its shares have since bounced back, and positive press in recent months has helped the company combat suggestions that it is virtually stagnating. This, after the company reduced its workforce by 10% in June. In October, 2020, Boeing qualified Stratasys material for 3D printed flight parts. Earlier that year, BAE systems increased its number of Stratasys printers.
“The completion of this acquisition marks an important milestone for Stratasys, positioning us to generate meaningful incremental revenue from a wide range of new market opportunities for mass production,” said Stratasys CEO Yoav Zeif. “I’m confident that Origin’s innovative solutions will be a key contributor to strong company growth beginning in 2021 and help us further realize our strategic goal to fortify our leadership position as the ‘first choice’ for polymer 3D printing.”
Based in San Francisco, Origin is pioneering a new approach to additive manufacturing of end-use parts. Origin One, the company’s manufacturing-grade 3D printer, precisely controls light, heat and force, among other variables, to produce parts with exceptional accuracy and consistency. The company works with a network of partners to develop a wide range of commercial-grade materials for its system, resulting in some of the toughest and most resilient materials in additive manufacturing. The company was founded in 2015 and is led by alumni from Google and Apple. Investors include Floodgate, DCM, Mandra Capital, Haystack, TDK Ventures, Stanford University and Joe Montana.
Stratasys is a global leader in additive manufacturing or 3D printing technology and is the manufacturer of FDM, PolyJet Technology and stereolithography 3D printers. The company’s technologies are used to create prototypes, manufacturing tools, and production parts for industries including aerospace, automotive, healthcare, consumer products and education. For more than 30 years, Stratasys products have helped manufacturers reduce product-development time, cost, and time-to-market, as well as reduce or eliminate tooling costs and improve product quality. The Stratasys 3D printing ecosystem of solutions and expertise includes 3D printers, materials, software, expert services, and on-demand parts production.