Stratasys and MakerBot Complete Merger
Merger enhances Stratasys' leadership position in 3D printing and
additive manufacturing and enables the company to offer world's most
popular desktop 3D printer.
MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--
Ltd. (NASDAQ: SSYS), the leader in professional 3D printing, and MakerBot,
the leader in desktop 3D printing, today announced the completion of
their merger first announced on June 19th.
Stratasys is a pioneer in 3D printing for prototyping and production,
and for more than 25 years has enabled designers and engineers to bring
their ideas to life. MakerBot, founded in 2009, helped develop the
desktop 3D printing market and has built the largest installed base of
3D printers in the category by making 3D printers highly accessible.
MakerBot has sold more than 22,000 3D printers since 2009.
"Stratasys and MakerBot share a vision about the potential for 3D
printing to transform design and manufacturing," said David Reis,
Stratasys CEO. "Our goal now is to maximize the benefits this merger
creates for our shareholders, our customers and our employees."
Bre Pettis, CEO of MakerBot added, "We are excited for the future - full
Consistent with the terms of the merger, Stratasys will issue up to 4.7
million of its shares in exchange for 100% of the outstanding capital
stock of MakerBot. MakerBot stakeholders also qualify for
performance-based earn-outs that provide for the issue of up to an
additional 2.36 million shares through the end of 2014. Those earn-outs,
if earned, will be made in Stratasys shares or cash (in an amount
reflecting the value of the Stratasys shares that would have otherwise
been issued at the relevant earn-out determination date), or a
combination thereof, at Stratasys' discretion.
Stratasys Ltd. (Nasdaq: SSYS) is enabling design and
manufacturing innovation through its 3D printers and materials for
prototyping and production. Designers and engineers in aerospace,
automotive, medical, and other markets use the company's patented FDM® and
PolyJet® processes to produce prototypes and manufactured
goods directly from 3D CAD files or other 3D content. Systems include 3D
printers for idea development, prototyping, and additive manufacturing.
For more information and news on Stratasys visit www.stratasys.com or
MakerBot is a subsidiary of Stratasys, and is the world leader in
desktop 3D printing. MakerBot desktop 3D Printers are used by engineers,
designers, researchers, and people who just like to make things. The
company also operates Thingiverse.com,
the largest collection of downloadable digital designs for making
physical objects. The MakerBot® Replicator® desktop 3D Printer has been
honored as one of Time Magazine's Best Inventions of 2012,
and was named "Best Emerging Tech" at the 2012 Consumer Electronics
Show. Follow MakerBot at www.makerbot.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain information included or incorporated by reference in this press
may be deemed to be "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, and Section 21E of the Securities Exchange Act
of 1934. Forward-looking statements are often characterized by the use
of forward-looking terminology such as "may," "will," "expect,"
"anticipate," "estimate," "continue," "believe," "should," "intend,"
"project" or other similar words, but are not the only way these
statements are identified. These forward-looking statements may include,
but are not limited to, statements relating to the company's objectives,
plans and strategies, statements that contain projections of results of
operations or of financial condition (including, with respect to the
MakerBot merger) and all statements (other than statements of historical
facts) that address activities, events or developments that the company
intends, expects, projects, believes or anticipates will or may occur in
the future. Forward-looking statements are not guarantees of future
performance and are subject to risks and uncertainties. The company has
based these forward-looking statements on assumptions and assessments
made by its management in light of their experience and their perception
of historical trends, current conditions, expected future developments
and other factors they believe to be appropriate. Important factors that
could cause actual results, developments and business decisions to
differ materially from those anticipated in these forward-looking
statements include, among other things: the company's ability to
efficiently and successfully integrate the operations of Stratasys, Inc.
and Objet Ltd. after their merger as well as the ability to successfully
integrate MakerBot into Stratasys; the overall global economic
environment; the impact of competition and new technologies; general
market, political and economic conditions in the countries in which the
company operates; projected capital expenditures and liquidity; changes
in the company's strategy; government regulations and approvals; changes
in customers' budgeting priorities; litigation and regulatory
proceedings; and those factors referred to under "Risk Factors",
"Information on the Company", "Operating and Financial Review and
Prospects", and generally in the company's annual report on Form 20-F
for the year ended December 31, 2012 filed with the U.S. Securities and
Exchange Commission and in other reports that the Company has filed with
the SEC. Readers are urged to carefully review and consider the various
disclosures made in the company's SEC reports, which are designed to
advise interested parties of the risks and factors that may affect its
business, financial condition, results of operations and prospects. Any
forward-looking statements in this press release are made as of the date
hereof, and the company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
Non-GAAP Discussion Disclosure
The information discussed within this release includes financial
projections that are in accordance with accounting principles generally
accepted in the United States (GAAP). In addition, certain non-GAAP
financial projections have been provided that exclude certain charges,
expenses and income. The non-GAAP measures should be read in conjunction
with the corresponding GAAP measures and should be considered in
addition to, and not as an alternative or substitute for, the measures
prepared in accordance with GAAP. The non-GAAP financial measures are
provided in an effort to provide information that investors may deem
relevant to evaluate results from the Company's core business operations
and to compare the Company's performance with prior periods. The
non-GAAP financial measures primarily identify and exclude certain
discrete items, such as transaction-related expenses, amortization
expenses and expenses associated with share-based compensation required
under ASC 718. The Company uses these non-GAAP financial measures for
evaluating comparable financial performance against prior periods.
MakerBot, Stratasys and FDM are registered trademarks and PolyJet is a
trademark of Stratasys Limited and or its affiliates or subsidiaries.
Vice President, Investor Relations
Mattsoff, +972 (0) 74 745 4338
Vice President, Marketing
Howard, 347-676-3932 or 203-273-4246
Director of PR, MakerBot
Source: Stratasys Ltd.
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