Everyoneâ€™s favorite 3D printing company is now in the hands of a much larger 3D printing company.
3D printer maker StratasysÂ announcedÂ todayÂ that itâ€™s acquired Brooklyn-based MakerBot in a deal valued at $403 million.
The move is a smart one for Stratasys, whichÂ specializesÂ in large-scale industrialÂ 3D printing, not the consumer sector that MakerBotÂ has come to represent. Stratasys says that itsÂ acquisition is â€œexpected to drive faster adoption of desktop 3D printing.â€
The deal, which is worth over $600 million, consists of $403 million in stock as well as an additional $201 million in â€œperformance-based earn-outs.â€
The news comes a few weeks after we reported the initial rumors about a possible acquisition. While both Stratasys and rival 3D printing company 3D Systems seemed like pretty obvious suitors for MakerBot, it didnâ€™t seem likely at the time that MakerBot would actually end upÂ agreeingÂ to a deal. But thatâ€™s exactly what it did.
Fortunately, MakerBot says it will continue to operate as an independent company, which makes sense given the brand power the CEO Bre Pettis and his team have amassed over the past few years. Since launching in 2009, MakerBot has sold 22,000 3D printers, the latest of which is the Replicator 2.
MakerBot also noted that it pulled inÂ $11.5 millionÂ in Â revenue during the first quarter, compared toÂ $15.7 million for all of last year.
â€œWe have an aggressive model for growth, and partnering with Stratasys will allow us to supercharge our mission to empower individuals to make things using a MakerBot, and allow us to bring 3D technology to more people,â€ Pettis said in a statement