On 16 September, the Estonian start-up GrabCAD and the world’s leading producer of 3D printers and printing solutions Stratasys signed a contract on buying GrabCAD. According to the Tech Crunch, the value of the transaction is 100 million dollars.
The sale/purchase transaction will presumably be concluded by the end of September, after which all GrabCAD activities will remain under the Stratasys Global Products and Technology Group. Hardi Meybaum, the co-founder and CEO of GrabCAD will continue managing the enterprise within the group. In short, the GrabCAD has been called the social network of engineers.
The acquisition is expected to enable Stratasys to provide its customers with enhanced collaboration tools and improved accessibility related to the 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.
"The GrabCAD was founded with the aim of uniting engineers all over the world and helping them collaborate to bring better products to the market faster," said Hardi Meybaum, CEO of GrabCAD. "By joining forces with Stratasys, a global leader in 3D printing, we believe we can extend the reach of one of the most exciting and innovative design collaboration technologies available. With its broad and growing customer base and worldwide presence, Stratasys can provide more customers around the world with exciting new solutions," added Meybaum.
“The addition of GrabCAD provides Stratasys with a leading cloud-based collaboration platform for engineers to manage, share and view CAD files,” said David Reis, CEO of Stratasys. “By increasing the collaboration and accessibility of 3D CAD files, we believe we can further accelerate the adoption of 3D printing solutions and Stratasys' other products. Together with GrabCAD, we believe that we will accelerate innovation and provide increased value to a growing universe of customers seeking to utilise 3D printing solutions. We are excited and glad to welcome the GrabCAD community to the Stratasys family,” added Reis.
Founded in 2010, GrabCAD is a pioneer in developing CAD software and has given engineers all over the world access to cloud-based 3D CAD cooperation solutions and tools. GrabCAD is also home to a community of more than 1.5 million members from around the world who can access a large public CAD file library and connect with other engineers around the globe.