Stratasys And MakerBot Complete Merger - Quick Facts

(RTTNews) - Stratasys Ltd. (SSYS), the provider of 3D printing solutions, said Thursday that it has completed its merger with MakerBot, a company engaged in desktop 3D printing.

The proposed merger has an initial value of $403 million based on Stratasys' closing stock price of $84.60 as of June 19, when the deal was announced.

As per the terms, 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. The proposed earn-out payments have an initial value of up to $201 million based on the Stratasys closing stock price as of June 19.

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. The company has sold more than 22,000 3D printers since 2009.

MakerBot's products are increasingly used by prosumers, including engineers, designers, architects, manufacturers, entrepreneurs and individuals, for professional purposes, as well as for personal applications.

During the first quarter of 2013, MakerBot generated $11.5 million in total revenue, compared to $15.7 million in the prior year.

The combination of the two industry leaders is expected to drive faster adoption of 3D printing for multiple applications and industries, as desktop 3D printers are becoming a mainstream tool across many market segments.