Stratasys To Buy Privately-held GrabCAD

(RTTNews) - Stratasys Ltd. (SSYS) said Tuesday that it has agreed to buy privately-held GrabCAD, Inc. in an all-cash deal.

Terms of the deal were not disclosed.

The deal is expected to be completed by the end of September. Upon completion of the deal, GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group. Hardi Meybaum, Co-founder and Chief Executive Officer of GrabCAD, will continue to lead GrabCAD within the group.

The acquisition is expected to enable Stratasys to provide its customers with enhanced collaboration tools and improved accessibility relating to 3D CAD content. The addition of GrabCAD Workbench provides Stratasys with an opportunity to drive communication and ease of use throughout the 3D printing process and grow its technology solutions and user communities.