Stratasys

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Stratasys Ltd.
Type Public NASDAQ: SSYS
Industry Digital printing
Founded 1989
Founder(s) S. Scott Crump
Headquarters Edina, Minnesota, United States
Key people S. Scott Crump (Chairman)
David Reis (CEO)
Products 3D printers
Rapid prototyping solutions
Direct digital manufacturing solutions
Revenue Increase US$ 155.89 million (2011)
Operating income Increase US$ 29.01 million (2011)
Net income Increase US$ 20.63 million (2011)
Employees 530 (2011)
Subsidiaries Objet Geometries
FORTUS
RedEye On Demand
Dimension Printing
Solidscape
MakerBot
Website www.stratasys.com
picture of corporate headquarters

Stratasys, Ltd. is a manufacturer of 3D printers and 3D production systems for office-based rapid prototyping and direct digital manufacturing solutions.[1] Engineers use Stratasys systems to model complex geometries in a wide range of thermoplastic materials, including: ABS, polyphenylsulfone (PPSF), polycarbonate (PC) and ULTEM 9085.

Stratasys manufactures in-office prototyping and direct digital manufacturing systems for automotive, aerospace, industrial, recreational, electronic, medical and consumer product OEMs.[2]

History

Stratasys was founded in 1989, by S. Scott Crump and his wife Lisa Crump in Eden Prairie, Minnesota. The idea for the technology came to Crump in 1988 when he decided to make a toy frog for his young daughter using a glue gun loaded with a mixture of polyethylene and candle wax. He thought of creating the shape layer by layer and of a way to automate the process. In April 1992, Stratasys sold its first product, the 3D Modeler.[3]

In October 1994, Stratasys had an initial public offering on NASDAQ; the company sold 1.38 million shares of common stock at $5 per share, netting approximately $5.7 million.[4]

In January 1995, Stratasys purchased IBM's rapid prototyping intellectual property and other assets and employed 16 former IBM engineers, who had been developing a small 3-D printer that relied on an extrusion system very similar to Crump's patented fused deposition modeling (FDM) technology.[5]

In 2003, Stratasys fused deposition modeling (FDM)[6] was the best-selling rapid prototyping technology.[7] FDM is a process that the company patented, which is used to produce three-dimensional parts directly from 3D CAD files layer-by-layer for use in design verification, prototyping, development and manufacturing.

In 2007, Stratasys supplied 44% of all additive fabrication systems installed worldwide, making it the unit market leader for the sixth consecutive year.[8]

In January 2010, Stratasys signed an agreement with HP to manufacture HP-branded 3D printers.[9] In August 2012, the HP manufacturing and distribution agreement was discontinued.

In 2012, an unrelated project to produce a working firearm by 3D printing was intended to use a Stratasys printer. Stratasys refused to permit this and withdrew their license for use of the printer, citing that it did not allow its printers "to be used for illegal purposes".[10][11]

Merger with Objet

On April 16, 2012, Stratasys announced that it agreed to merge with privately held Objet Ltd., a leading manufacturer of 3D printers based in Rehovot, Israel, in an all-stock transaction. Stratasys shareholders were expected to own 55 percent of the combined company, and Objet shareholders would own 45 percent. The merger was completed on December 3, 2012; the market capitalization of the new company was approximately $3.0 billion.[12]

Acquisition of MakerBot

On June 19, 2013, MakerBot Industries announced that it was purchased by Stratasys for $403 million. [13]

See also

  • 3d printing
  • Digital fabricator
  • Reprap

References

  1. ↑ Boik, John (2004). Lessons from the Greatest Stock Traders of All Time. McGraw-Hill Professional. p. 24. ISBN 978-0-07-143788-2. Retrieved 2008-10-31. 
  2. ↑ "Hot Growth Companies: Stratasys Profile". BusinessWeek. Retrieved 2008-10-31. 
  3. ↑ Stratasy company history, Funding Universe
  4. ↑ Stratasys, Inc. (Nasdaq: SSYS) announce an initial public offering of 1,200,000 shares of its Common Stock; PRNewswire, 20 Oct 1994
  5. ↑ Stratasys purchases IBM's rapid prototyping technology; PRNewswire, 3 Jan 1995
  6. ↑ Chee Kai Chua; Kah Fai Leong, Chu Sing Lim (2003). Rapid Prototyping. World Scientific. p. 124. ISBN 978-981-238-117-0. Retrieved 2008-10-31. 
  7. ↑ "Almost Out of the Woods". Forbes.com. Retrieved 2007-02-17. 
  8. ↑ Wohlers, Terry (2008). "Wohlers Report 2008". Wohlers Associates. 
  9. ↑ Stratasys and HP join forces to make 3D printers; Shapeways, January 19. 2010
  10. ↑ "Plans to print a gun halted as 3D printer is seized". BBC News Online. 3 October 2012. 
  11. ↑ Beckhusen, Robert (2012-10-01). "3-D Printer Company Seizes Machine From Desktop Gunsmith". Wired News. Retrieved 2013-06-12. 
  12. ↑ Stratasys and Objet Complete Merger; BusinessWire, December 3, 2012
  13. ↑ ;BusinessWire, June 19, 2013

External links

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