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Stratasys to buy GrabCAD [Star Tribune (Minneapolis)](Star Tribune (Minneapolis, MN) Via Acquire Media NewsEdge) Sept. 16--Stratasys Ltd. will buy Boston-based 3-D printing firm GrabCAD, Inc. in an all-cash transaction, the companies said Tuesday. The deal is expected to close at the end of the month. Terms were not disclosed. Founded in Boston in 2010 in Boston, GrabCAD has development offices in Estonia and the United Kingdom. It offers cloud-based tools that let engineers, designers and othersd share and manage 3-D CAD files and other design data. Once the purchase is finalized, GrabCAD will become part of Stratasys' Global Products and Technology Group. GrabCAD's CEO and co-founder, Hardi Meybaum, is expected to lead GrabCAD within the group. The purchase is the latest in a series for Stratasys, which operates dual headquarters in Eden Prairie and Israel. Earlier this year, Stratasys acquired Solid Concepts and Harvest Technologies, which offer services related to manufacturing with 3-D printers. Last month, it announced that it is acquiring certain assets of its Germany-based reseller partner, Hafner's Buero GmbH. The latest deal with GrabCAD is expected to increase Stratasys's service offerings and appeal to manufacturing customers. In a statement, CEO David Reis said that "GrabCAD provides Stratasys with a leading cloud-based collaboration platform for engineering teams to manage, share and view CAD files. By increasing the collaboration and accessibility of 3-D CAD files, we believe we can further accelerate the adoption of 3-D printing solutions and Stratasys' product offerings." Stratasys' stock fell 70 cents a share to $120.88 in midmorning trading Tuesday. Dee DePass -- 612-673-7725 ___ (c)2014 the Star Tribune (Minneapolis) Visit the Star Tribune (Minneapolis) at www.startribune.com Distributed by MCT Information Services |