Stratasys

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.[http://www.fundinguniverse.com/company-histories/stratasys-inc-history/ Stratasy company history], Funding Universe

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.[http://www.thefreelibrary.com/STRATASYS,+INC.+ANNOUNCES+INITIAL+PUBLIC+OFFERING+OF+1.2+MILLION...-a015825555 Stratasys, Inc. (Nasdaq: SSYS) announce an initial public offering of 1,200,000 shares of its Common Stock] {{Webarchive|url=https://web.archive.org/web/20160316192442/http://www.thefreelibrary.com/STRATASYS%2c+INC.+ANNOUNCES+INITIAL+PUBLIC+OFFERING+OF+1.2+MILLION...-a015825555 |date=2016-03-16 }}; PRNewswire, 20 Oct 1994

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.[http://www.thefreelibrary.com/STRATASYS+PURCHASES+IBM+RAPID+PROTOTYPING+TECHNOLOGY-a015976273 Stratasys purchases IBM's rapid prototyping technology] {{Webarchive|url=https://web.archive.org/web/20160305095535/http://www.thefreelibrary.com/STRATASYS+PURCHASES+IBM+RAPID+PROTOTYPING+TECHNOLOGY-a015976273 |date=2016-03-05 }}; PRNewswire, 3 Jan 1995

In 2003, Stratasys fused deposition modeling (FDM){{cite book |title=Rapid Prototyping |author=Chee Kai Chua |author2=Kah Fai Leong |author3=Chu Sing Lim |year=2003 |publisher=World Scientific |isbn=978-981-238-117-0 |pages=124 |url=https://books.google.com/books?id=hpNT01xw4EEC&q=Stratasys&pg=PA124 |access-date=2008-10-31}} was the best-selling rapid prototyping technology.{{cite web| url=https://www.forbes.com/global/2004/0920/044.html| title= Almost Out of the Woods| work=Forbes.com| access-date=2007-02-17}} 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.{{cite web |title=Wohlers Report 2008 |last=Wohlers |first=Terry |year=2008 |publisher=Wohlers Associates |url=http://wohlersassociates.com/}}

In January 2010, Stratasys signed an agreement with HP to manufacture HP-branded 3D printers.[http://www.shapeways.com/blog/archives/357-stratasys-and-hp-join-forces-to-make-3d-printers.html Stratasys and HP join forces to make 3D printers]; Shapeways, January 19. 2010 In August 2012, the HP manufacturing and distribution agreement was discontinued.

In May 2011, Stratasys announced that they had acquired Solidscape, a leader in high-precision 3D printers for lost wax casting applications.{{Cite news |title=Stratasys Acquires 3D Printer Maker, Solidscape |url=http://investors.stratasys.com/releasedetail.cfm?releaseid=599807 |url-status=dead |archive-url=https://web.archive.org/web/20111029145555/http://investors.stratasys.com/releasedetail.cfm?releaseid=599807 |archive-date=2011-10-29 |date=May 3, 2011}}

In 2012, Defense Distributed, 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 its license for use of the printer, citing that it did not allow its printers "to be used for illegal purposes".{{Cite news |title=Plans to print a gun halted as 3D printer is seize |url=https://www.bbc.co.uk/news/technology-19813382 |date=3 October 2012 |publisher=BBC News Online}}{{cite magazine |url=https://www.wired.com/dangerroom/2012/10/3d-gun-blocked/ |title=3-D Printer Company Seizes Machine From Desktop Gunsmith |first=Robert

|last=Beckhusen |magazine=Wired |publisher=Wired News |date=2012-10-01 |access-date=2013-06-12}}

In 2014 the Israeli fashion designer Noa Raviv featured grid pattern centered couture garments which were created employing Stratasys' 3D printing technology. Some selections from the aforementioned collection were exhibited in 2016 at the exhibition "Manus X Machina" at the Anna Wintour Costume Center at New York City's Metropolitan Museum of Art.{{Cite web|url=http://blog.stratasys.com/2014/08/28/noa-raviv-3d-printing-fashion/|title=2D Fashion Meets 3D Printing in Noa Raviv's New Award-Winning Collection|access-date=2016-08-24|archive-date=2018-08-03|archive-url=https://web.archive.org/web/20180803195947/http://blog.stratasys.com/2014/08/28/noa-raviv-3d-printing-fashion/|url-status=dead}}{{cite web|url=http://www.dezeen.com/2014/08/21/noa-raviv-hard-copy-fashion-collection-grid-patterns-3d-printing/|title=Noa Raviv combines grid patterns and 3D printing for Hard Copy fashion collection|author=Dan Howarth|website=Dezeen|date=August 21, 2014|access-date=December 26, 2019}}

In 2019, the J750 model was recognized as the Enterprise 3D Printer of the Year in the polymer printer category at the 2019 3D Printing Industry Awards in London, England.{{Cite web|url=https://3dprintingindustry.com/news/2019-3d-printing-industry-awards-winners-announced-156727/|title=2019 3D Printing Industry Awards winners announced|date=2019-06-11|website=3D Printing Industry|language=en-US|access-date=2019-07-08}}

In May 2023, Stratasys agreed to combine with Desktop Metal in an all-stock transaction worth at $1.8{{nbsp}}billion, in which existing Stratasys shareholders will own around 59{{nbsp}}percent of the combined company.{{cite news |last1=Roof |first1=Katie |last2=Baker |first2=Liana |date=May 25, 2023 |title=Stratasys to Combine With Desktop Metal in $1.8 Billion Deal |url=https://www.bloomberg.com/news/articles/2023-05-25/stratasys-to-combine-with-desktop-metal-in-1-8-billion-deal |publisher=Bloomberg News}} Prior to, and following the acquisition announcement, Stratasys received multiple unsolicited bids to be acquired by part-owner Nano Dimensions, and in June, received another offer for $1.2{{nbsp}}billion from its competitor 3D Systems.{{cite news |last=Kennedy |first=Patrick |date=June 2, 2023 |title=Stratasys receives another $1B takeover bid as 3-D printer market consolidate |url=https://www.startribune.com/stratasys-receives-another-takeover-bid-as-3-d-printer-market-looks-to-consolidate-3d-systems/600279714/ |work=Star Tribune}}{{cite web |last=Heater |first=Brian |date=June 2, 2023 |title=After Stratasys and Desktop Metal announce merger plans, 3D Systems proposes acquisition |url=https://techcrunch.com/2023/06/02/after-stratasys-and-desktop-metal-announce-merger-plans-3d-systems-proposes-acquisition/ |website=TechCrunch}} Stratasys terminated the acquisition in September after its shareholders voted against the Desktop Metal acquisition as both major proxy advisory firms Glass Lewis and Institutional Shareholder Services recommended against the deal.{{Cite news |last=Habib-Valdhorn |first=Shiri |date=September 28, 2023 |title=Stratasys shareholders nix merger with Desktop Metal |url=https://en.globes.co.il/en/article-stratasys-shareholders-nix-merger-with-desktop-metal-1001459006 |work=Globes}}

In August 2024, Stratasys filed a suit against Chinese 3D printing company Bambu Lab, alleging patent infringement.{{Cite web |last=Sher |first=Davide |date=2024-08-10 |title=Stratasys files patent infringement lawsuit against Bambu Lab |url=https://www.voxelmatters.com/stratasys-files-patent-infringement-lawsuit-against-bambu-lab/ |access-date=2024-08-11 |website=VoxelMatters - The heart of additive manufacturing |language=en-US}}

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.{{cite web|url=https://www.haaretz.com/israel-news/business/.premium-israeli-3d-printer-maker-merges-with-u-s-rival-1.5268474|title=3D Printer Maker Objet Merges With Its U.S. Rival|author=Dror Raich, Inbal Orpaz|newspaper=Haaretz|date=December 5, 2012|access-date=December 26, 2019}}

On June 19, 2013, MakerBot Industries announced that it was purchased by Stratasys for $403 million.{{cite web|url=https://www.thenational.ae/business/3d-printing-is-the-new-dimension-for-aerospace-industry-1.295393|title=3D printing is the new dimension for aerospace industry|author=Neil Parmar|newspaper=The National (Abu Dhabi)|date=August 6, 2013|access-date=December 26, 2019}}

On April 2, 2014, Stratasys announced that they had entered into definitive agreements to acquire Solid Concepts and Harvest Technologies, which will be combined with RedEye, its existing digital manufacturing service business, to establish a single additive manufacturing services business unit. [http://www.marketwatch.com/story/stratasys-to-acquire-solid-concepts-and-harvest-technologies-2014-04-02];MarketWatch, April 2, 2014 The acquisition was finalized on July 15, 2014.[https://www.cnbc.com/id/101836584] {{Webarchive|url=https://web.archive.org/web/20140814050802/http://www.cnbc.com/id/101836584|date=2014-08-14}}; CNBC.com, July 15, 2014

In February 2016, Stratasys announced an investment in Israeli company Massivit to promote and deploy Massivit 3D's proprietary super-sized 3D printing solutions.

On November 4, 2016, Inkbit announced that Stratasys led an equity funding round with DSM Venturing to propel production of its Vision-based, artificial intelligence additive manufacturing platform.{{Cite web|url=https://inkbit3d.com/press-releases/inkbit-raises-dollar12-million-in-equity-round-led-by-stratasys-and-dsm-venturing|title=Inkbit {{!}} Inkbit Raises $12 Million in Equity Round Led by Stratasys and DSM Venturing|website=inkbit3d.com|access-date=2019-11-04}}

On December 9, 2020, Stratasys announced a deal to acquire San Francisco-based Origin for $100 million.{{Cite web|title=Stratasys to Acquire Origin, Bringing New Additive Manufacturing Platform to Polymer Production|url=https://investors.stratasys.com/news-events/press-releases/detail/717/stratasys-to-acquire-origin-bringing-new-additive|access-date=2021-06-08|website=Stratasys Ltd.|date=9 December 2020 |language=en}} The acquisition was finalized on December 31, 2020.{{Cite web|title=Stratasys Completes Acquisition of Origin, Accelerating Expansion Into Mass Production Additive Manufacturing|url=https://investors.stratasys.com/news-events/press-releases/detail/721/stratasys-completes-acquisition-of-origin-accelerating|access-date=2021-06-08|website=Stratasys Ltd.|date=5 January 2021 |language=en}}

On April 27, 2021, Stratasys announced the Stratasys Origin One, an updated version of the Origin One 3D Printer targeted towards production applications.{{Cite web|title=Stratasys Aggressively Advances Additive Manufacturing Strategy With 3D Printing Triple Play|url=https://investors.stratasys.com/news-events/press-releases/detail/736/stratasys-aggressively-advances-additive-manufacturing|access-date=2021-06-08|website=Stratasys Ltd.|date=27 April 2021 |language=en}}

In 2021, Stratasys acquired the outstanding shares of Xaar 3D, which Stratasys purchased from Xaar. Xaar 3D provides 3D printers using SAF Selective Absorption Fusion technology, a type of powder bed fusion. This technology is designed to 3D print polymer production parts at volume. The first printer used the technology is called the H350.{{cite web |last1=Hanaphy |first1=Paul |title=Stratasys takes full control of Xaar 3D to boost high-throughput H Series 3D printing |url=https://3dprintingindustry.com/news/stratasys-takes-full-control-of-xaar-3d-to-boost-high-throughput-h-series-3d-printing-197239/ |website=3D Printing Industry |date=October 6, 2021}}

In 2021, Stratasys announced the acquisition of RP Support Ltd. (RPS), which makes large stereolithography 3D printers.{{cite news |title=Stratasys acquires UK 3D printing co RP Support |url=https://en.globes.co.il/en/article-stratasys-acquires-uk-3d-printing-co-rp-support-1001361289 |website=Globes |date=February 18, 2021}}

On May 12, 2022, MakerBot and Ultimaker announced plans to merge. The new single company is to be backed by NPM Capital and MakerBot-owner Stratasys and co-led by existing CEOs Nadav Goshen and Jürgen von Hollen.{{cite web |last1=Heater |first1=Brian |title=MakerBot and Ultimaker announce plans to merge |url=https://techcrunch.com/2022/05/12/makerbot-and-ultimaker-are-merging/ |website=TechCrunch |date=May 12, 2022}}

In October 2022, Stratasys acquired the Berkeley-headquartered quality assurance software company Riven.{{Cite web |last=Network |first=3D Printing Media |date=2022-10-26 |title=Stratasys acquires software company Riven |url=https://www.3dprintingmedia.network/stratasys-acquires-software-company-riven/ |access-date=2022-10-26 |website=3D Printing Media Network - The Pulse of the AM Industry |language=en-US}}

In 2014, Stratasys prototyped an electric car with fully 3D-printed exterior panels, and a few printed interior parts. Development took one year, and parts were constructed using a Stratasys Objet1000.{{Cite web |url=http://blog.stratasys.com/2014/11/18/streetscooter-3d-printing/ |title=Revolutionary New Electric Car Built and Tested in One Year with Objet1000 Multi-material 3D Production System |access-date=2014-11-24 |archive-date=2014-11-29 |archive-url=https://web.archive.org/web/20141129043617/http://blog.stratasys.com/2014/11/18/streetscooter-3d-printing/ |url-status=dead }}

Urbee[https://web.archive.org/web/20130412083341/http://www.stratasys.com/resources/case-studies/automotive/urbee Stratasys 3D Printers Build Urbee, First Prototype Car to Have Entire Body Created with an Additive Process] is the first car in the world manufactured using additive manufacturing technology (its bodywork and car windows were "printed"). Created in 2010, through a partnership with the Canadian engineering group KOR Ecologic,[http://korecologic.com/ KOR Ecologic] it is a hybrid vehicle with a futuristic look.[http://www.tecmundo.com.br/impressora/6260-conheca-o-urbee-primeiro-carro-a-ser-fabricado-com-uma-impressora-3d.htm tecmundo.com.br/] Conheça o Urbee, primeiro carro a ser fabricado com uma impressora 3D][http://truth-out.org/news/item/27430-the-urbee-3d-printed-car-coast-to-coast-on-10-gallons The "Urbee" 3D-Printed Car: Coast to Coast on 10 Gallons] November 23, 2014. Truthout[https://www.youtube.com/watch?v=vI12MqoYQto 3D Printed Car Creator Discusses Future of the Urbee] YouTube

• List of 3D printed weapons and parts
• List of 3D printer manufacturers
• Open Design Alliance and .dwg
• Patent troll
• STL

{{reflist}}

{{Minnesota Corporations}}

Category:Companies based in Eden Prairie, Minnesota

Category:3D printer companies

Category:1989 establishments in Minnesota

Category:Manufacturing companies based in Minnesota

Category:Electronics companies established in 1989

Category:Fused filament fabrication

Category:Companies listed on the Nasdaq

Category:1994 initial public offerings

Category:Tax inversions