Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Acquisitions and Other Business Activities (Tables)

v3.3.1.900
Acquisitions and Other Business Activities (Tables)
12 Months Ended
Dec. 31, 2015
Solid Concepts Inc [Member]  
Acquisitions and Other Business Activities [Line Item]  
Summary of the fair value of the consideration transferred to Solid Concepts stockholders for the Solid Concepts transaction
      U.S. $ in thousands  
Issuance of ordinary shares   $ 97,869
Cash paid upon closing   40,130
Holdback amount   3,839
Deferred payments     43,576
Total fair value of consideration transferred      $ 185,414
Schedule of allocation of the purchase price to assets acquired and liabilities assumed
Allocation of Purchase
Price
(U.S. $ in thousands)
Cash and cash equivalents   $ 3,225
Accounts receivable   7,995
Inventories   2,391
Other assets   2,962
Property, plant and equipment   13,952
Other intangible assets   38,320
Goodwill   125,433
Total assets acquired   194,278
Accounts payable   3,055
Accrued expenses and other current liabilities    5,290
Total liabilities assumed   8,345
Non controlling interest   519
Net assets acquired   $ 185,414
Schedule of supplemental pro forma combined results of operations
Year ended December 31,
2014   2013
       (U.S. $ in thousands, except
per share data) 
Net sales $ 785,385   $ 546,355
Net loss attributable to Stratasys Ltd (106,924 )
(36,259)
Net loss per ordinary share attributable to Stratasys Ltd.- basic and diluted $ (2.12 )  $ (0.84
Schedule of adjustments for the supplemental pro forma combined results of operations
Year ended December 31,   
  2014   2013

(U.S. $ in thousands)
Adjustments due to amortization of intangibles $ 2,261   $ 6,446
Adjustments due to retention bonuses (266 ) 27,982
Adjustments due to expenses related to business combination (26,012 ) (20,697)
Adjustments due to financial expenses related to Solid Concepts debts  (406 ) (440)
Taxes related adjustments to the supplemental pro forma 10,513   (755)
  $ (13,910 ) $ 12,536
MakerBot [Member]  
Acquisitions and Other Business Activities [Line Item]  
Schedule of Total Purchase Price

U.S. $ in thousands

Issuance of ordinary shares to MakerBot stockholders

$ 446,019

Tax withholding and other payments on behalf of MakerBot stockholders

  12,163

Exchange of MakerBot stock options for the Company options

  7,198

Earn-out at estimated fair value

    28,270

Total consideration

  $ 493,650
Schedule of Stock Option Assumptions

Risk-free interest rate

  0.36 %

Expected option term

  1.38 years  

Expected price volatility

  59.41 %

Dividend yield

  —  

Weighted average merger date fair value 

$ 92.73  
Schedule of allocation of the purchase price to assets acquired and liabilities assumed

Allocation of

Purchase Price

U.S. $ in thousands

Cash and cash equivalents

$ 3,405

Accounts receivable - Trade

  878

Accounts receivable - Other

  923

Deferred tax assets

  5,964

Inventories

  10,314

Property, plant and equipment

  4,658

Goodwill

  372,008

Intangible assets

  168,386

Other non-current assets

  7,068

Total assets acquired 

  573,604

Accounts payable & other liabilities

  6,581

Unearned revenue

  4,075

Deferred tax liabilities

  69,120

Other non-current liabilities

  178

Total liabilities assumed

  79,954

Net assets acquired

$ 493,650
Schedule of Acquired Intangible Assets

U.S. $ in thousands

 

Weighted Average

Life (Years)

Developed technology

$ 43,227   5

Trade name

42,134   11

Customer relationships - Distributors

19,315   10

Customer relationships - Direct

3,435   1

Non-compete agreement

10,004   4

IPR&D - Printers

34,189  

Indefinite

IPR&D - Peripherals

16,082  

Indefinite

Total

$ 168,386  
Schedule of supplemental pro forma combined results of operations
Year ended December 31, 2013
(U.S. $ in thousands, except
per share data)
Net sales $ 518,714
Net loss attributable to Stratasys Ltd (23,928
)
Net loss per ordinary share attributable to Stratasys Ltd.- basic (0.54 )
Net loss per ordinary share attributable to Stratasys Ltd.- diluted $ (0.54 )
Schedule of Adjustments to Supplemental Pro Forma Results of Operations

Year ended

December 31, 2013

 
(U.S. $ in thousands)
 
Increase in amortization of intangibles $ 14,139
Adjust performance bonus expenses (163)
Adjust expenses related to business combination (deal fees,
inventory and deferred revenues step-up and earn-out
revaluation)
(11,301)
Taxes related adjustments to the supplemental pro forma (4,239)
$ (1,564)
Schedule of Results of Operations in Merger

Year ended
December 31, 2013

 

(U.S. $ in thousands) 

 

Net sales

$ 35,603  

Loss attributable to MakerBot

$ (5,306 )