MakerBot, Ultimaker Announce Their Merger — and a Whopping $62.4 Million in New Funding
Current chief executives to act in concert, with MakerBot's Nadav Goshen to concentrate on R&D and general operations.
3D printing specialists MakerBot and Ultimaker have agreed to a merger in a deal which brings the newly-formed combined company an impressive $62.4 million in venture capital — and with Nadav Goshen and Jürgen von Hollen to act as co-chief executives.
"This merger marks an important milestone for Ultimaker and MakerBot," claims von Hollen, currently chief executive at Ultimaker. "Innovation and growth are both critical to bringing desktop 3D printing from a specialty technology into mainstream business adoption. The new company will leverage and expand its combined global footprint with sales and operations in the Americas, EMEA [Europe, Middle East, and Africa], and APAC [Asia Pacific]."
"Technological innovation is paramount in growing the availability of easy-to-use professional 3D printing solutions," adds Goshen, likewise presently chief executive at MakerBot. "By combining our teams and leveraging the additional funding, we can accelerate the development of advanced solutions to provide our customers with a broad portfolio of hardware and software solutions to serve a wide spectrum of customers and applications."
The combined company, the name for which — UltiBot or Makermaker being possibilities, potentially — has yet to be confirmed, will be jointly headquartered in The Netherlands and New York, and with two chief executives at the helm it may seem to be more of a collaboration than a merger. It's enough, though, to have attracted funding from NPM Capital and Stratasys, who between them have promised $62.4 million in cash to the combined entity.
The side of the company headed by von Hollen will concentrate on the commercial side of the business, company representatives have confirmed, while Goshen will focus on research and development plus general operations management. The key goal for the combined company: Provision of a "comprehensive desktop 3D printing ecosystem of hardware, software, and materials" which will help it grow globally.
The deal is expected to close later this year, pending regulatory approvals and employee representative consultation. Neither company have indicated whether there will be lay-offs as a result of the merger.