French manufacturer Prodways has recently announced its purchase of Solidscape. As Prodways acquires Solidscape, it manages to expand its portfolio of tech and services to include wax 3D printing. At the same time, it is also evidence that Stratasys is shedding a lot of its own subsidiaries. The deal has massive implications for both companies.
While Prodways has many technologies under its belt, there is definitely a place for Solidscape’s wax printing. Wax printing is useful for many industries such as electronic and biomed but also particularly in jewellery. It gives them a bigger presence in the overall market by giving them a prominent jewellery and casting technology. Prodways’ MOVINGLight DLP technology also serves this same market, so they have additional firepower for this offering.
The company has also estimated, in a forward-looking statement, that Solidscape may make $10 million in 2019. This will include the 50 percent from materials and supplies sales. Raphaël Gorgé, chairman and CEO of Prodways Group, has said that he wants the company to be the third leading integrated industrial 3D printing company.
The companies have not disclosed the exact value figures of the acquisition.
Stratasys Changing Gears
“Since 2011, Stratasys proudly promoted Solidscape and its proprietary technology as part of its product portfolio. As Stratasys moves strategically to more focus on specific vertical markets, we believe that this acquisition is beneficial for all parties and we wish Prodways the best of luck in accelerating the growth of Solidscape and maintaining its position as a market leader in its core markets,” said Rich Garrity, president of Stratasys Americas.
As Prodways acquires Solidscape, Stratasys has been busy with spinning out other companies into their own operations. Evolve Additive and Vulcan Labs have done just that, however Stratasys still maintains some shares in them.
All of this comes on the heels of the replacement of CEO Ilan Levin by interim CEO and Chairman of the Board Elchanan Jaglom in March 2018. It may well be the case that Stratasys is making some sweeping changes due to new management.
Featured image courtesy of Prodways.