Stratasys has announced the acquisition of Covestro AM business, which should allow it to expand its differentiated materials offering in stereolithography, DLP and powders, supported by a broad IP portfolio.
Stratasys said that Covestro has played a key part in its third-party materials ecosystem, and the acquisition will benefit customers using multiple Stratasys 3D printing platforms, including its Origin P3, Neo stereolithography, and H350 printers.
This acquisition of the German material company, which is due during the first quarter of 2023, should enable Stratasys to offer more full solutions to customers and accelerate next-generation materials development for manufacturing with partners.
The acquisition, worth approximately £36 million, should include a portfolio of approximately sixty AM materials, and an extensive IP portfolio comprised of hundreds of patents and patents pending, the global development and sales teams across Europe, the U.S. and China and R&D facilities and activities.
“Innovative materials are the fuel of additive manufacturing and translate directly into the ability to create new use cases for 3D printing, particularly in the production of end-use parts like dental aligners and automotive components,” said Stratasys CEO Yoav Zeif.
“The acquisition of Covestro’s highly regarded Additive Manufacturing business positions us to further grow adoption of our newest technologies. We will now have the ability to accelerate cutting-edge developments in 3D printing materials, and advance our strategy of providing the best and most complete polymer 3D printing portfolio in the industry.”