Stratasys has announced the signing of a definitive agreement to acquire Covestro's additive manufacturing materials business. The acquisition is expected to be accretive immediately upon closing. The acquisition will include R&D facilities and activities, global development and sales teams in Europe, the US and China, a portfolio of approximately 60 additive manufacturing materials and an extensive IP portfolio with hundreds of patents and patent applications. The purchase price amounts to around EUR 43 million, plus additional inventory costs and less certain liabilities. In addition, a potential profit share of up to EUR 37 million has been agreed, depending on the achievement of various key performance indicators.

Covestro was already an important part of the Stratasys ecosystem for third-party materials. The acquisition will benefit customers using one or more Stratasys 3D printing platforms, including the Origin P3, Neo Stereolithography and H350 printers. Stratasys already distributes Covestro's Somos resins, which are already available for the Neo and Origin One 3D printers.

"Innovative materials are the fuel of additive manufacturing and lead directly to new applications for 3D printing, especially in the production of end-use parts, be it braces or automotive components," said Dr. Yoav Zeif, CEO at Stratasys. "The acquisition of Covestro's highly regarded Additive Manufacturing business enables us to further increase the adoption of our latest technologies. We will now be able to accelerate the development of cutting-edge 3D printing materials and advance our strategy to offer the best and most complete polymer 3D printing portfolio in the industry."

The acquisition is expected to be completed in the first quarter of 2023. The transaction is subject to regulatory approvals and the fulfillment of other customary closing conditions. The majority of the acquired company's employees will continue to work in Geleen, the Netherlands, and Elgin, Illinois.