Origin’s resin based Programmable
PhotoPolymerization (P3) technology addresses fast-growing demand
for tooling and end-use parts across multiple applications
Stratasys Ltd. (NASDAQ: SSYS) announced today it has completed
the acquisition of Origin, effective as of Dec. 31, 2020. The
acquisition adds Origin’s software-centric additive manufacturing
solution that offers best-in-class printing technology based on
digital light processing for production-oriented polymer
applications.
“The completion of this acquisition marks an important milestone
for Stratasys, positioning us to generate meaningful incremental
revenue from a wide range of new market opportunities for mass
production,” said Stratasys CEO Yoav Zeif. “I’m confident that
Origin’s innovative solutions will be a key contributor to strong
company growth beginning in 2021 and help us further realize our
strategic goal to fortify our leadership position as the ‘first
choice’ for polymer 3D printing.”
As previously indicated on December 9, 2020, the impact of the
acquisition on Stratasys’ diluted non-GAAP earnings per share is
expected to accelerate the company’s growth rate and be slightly
dilutive to non-GAAP earnings per share in 2021, and accretive to
non-GAAP earnings per share by 2023.
Based in San Francisco, Origin is pioneering a new
approach to additive manufacturing of end-use parts. Origin One,
the company’s manufacturing-grade 3D printer, uses Programmable
PhotoPolymerization to precisely control light, heat, and force,
among other variables, to produce parts with exceptional accuracy
and consistency. The company works with a network of partners to
develop a wide range of commercial-grade materials for its system,
resulting in some of the toughest and most resilient materials in
additive manufacturing. The company was founded in 2015 and is led
by alumni from Google and Apple. Investors include Floodgate, DCM,
Mandra Capital, Haystack, TDK Ventures, Stanford University, and
Joe Montana. Learn more at www.origin.io.
Stratasys is a global leader in additive manufacturing or
3D printing technology and is the manufacturer of FDM®, PolyJet
Technology™, and stereolithography 3D printers. The company’s
technologies are used to create prototypes, manufacturing tools,
and production parts for industries including aerospace,
automotive, healthcare, consumer products and education. For more
than 30 years, Stratasys products have helped manufacturers reduce
product-development time, cost, and time-to-market, as well as
reduce or eliminate tooling costs and improve product quality. The
Stratasys 3D printing ecosystem of solutions and expertise includes
3D printers, materials, software, expert services, and on-demand
parts production.
To learn more about Stratasys, visit www.stratasys.com, the
Stratasys blog, Twitter, LinkedIn, or Facebook. Stratasys reserves
the right to utilize any of the foregoing social media platforms,
including the company’s websites, to share material, non-public
information pursuant to the SEC’s Regulation FD. To the extent
necessary and mandated by applicable law, Stratasys will also
include such information in its public disclosure filings.
Stratasys, FDM, and PolyJet Technology are trademarks of
Stratasys Ltd. and/or its affiliates. Origin is a registered
trademark of Origin. All other trademarks are the property of their
respective owners, and Stratasys assumes no responsibility with
regard to the selection, performance, or use of these non-Stratasys
products.
Cautionary Statement Regarding Forward-Looking
Statements
The information contained in this press release may include
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, Section 27A of the
Securities Act of 1933, and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements are often characterized by
the use of forward-looking terminology such as “may,” “will,”
“expect,” “anticipate,” “estimate,” “continue,” “believe,”
“should,” “intend,” “project” or other similar words, but may be
identified in other ways as well. These forward-looking statements
may include, but are not limited to, statements relating to the
anticipated completion of the acquisition of Origin by Stratasys,
Stratasys’ objectives, plans and strategies with respect to Origin
following its acquisition, statements that contain projections of
results of operations or of financial condition with respect to
Origin and Stratasys after the acquisition, and all statements
(other than statements of historical fact) that address activities,
events or developments that Stratasys intends, expects, projects,
believes or anticipates will or may occur in the future.
Forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties. Stratasys has based
these forward-looking statements on assumptions and assessments
made by its management and, in certain cases, by Origin’s
management in light of their experience and their perception of
historical trends, current conditions, expected future developments
and other factors they believe to be appropriate. Important factors
that could cause actual results, developments and business
decisions to differ materially from those anticipated in these
forward-looking statements include, among other things: any
potential obstacles to closing the acquisition of Origin; the
degree of success of Stratasys in efficiently and successfully
integrating the operations of Origin into Stratasys after the
acquisition; the general economic environment and the economic
environment for 3D printing and Stratasys’ customers in particular;
the impact of competition and new technologies; general market,
political and economic conditions in the countries in which
Stratasys operates, particularly in respect of the ongoing COVID-19
pandemic; government regulations and approvals; changes in
customers’ budgeting priorities; litigation and regulatory
proceedings; and those factors referred to under “Risk Factors”,
“Information on the Company”, “Operating and Financial Review and
Prospects”, and generally in Stratasys’ annual report on Form 20-F
for the year ended December 31, 2019 filed with the U.S. Securities
and Exchange Commission, or SEC, on February 26, 2020, and in other
reports that Stratasys furnishes to or files with the SEC from time
to time, including, most recently, the report of foreign private
issuer on Form 6-K reporting Stratasys’ results for the quarter and
nine months ended September 30, 2020, furnished to the SEC on
November 12, 2020. Readers are urged to carefully review and
consider the various disclosures made in Stratasys’ SEC reports,
which are designed to advise interested parties of the risks and
factors that may affect its business, financial condition, results
of operations and prospects. Any forward-looking statements in this
press release are made as of the date hereof, and Stratasys
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210105005168/en/
Media Contacts Stratasys Corporate & North
America aaron.pearson@stratasys.com +1 612-716-9228
Europe, Middle East, and Africa Jonathan Wake / Miguel
Afonso, Incus Media stratasys@incus-media.com +44 1737 215200
Asia Pacific and Japan Alice Chiu
alice.chiu@stratasys.com +852 9189 7273
Investor Relations Yonah Lloyd yonah.lloyd@stratasys.com
+972-54-4382464
Brazil, Central America and South America
erica.massini@stratasys.com +55 (11) 2626-9229
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