EDEN PRAIRIE, Minn. & REHOVOT, Israel--(BUSINESS WIRE)--Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions, today announced it has acquired UK-based RP Support Ltd. (RPS), a provider of industrial stereolithography 3D printers and solutions. RPS’ complementary technology further expands Stratasys’ polymer suite of solutions across the product life cycle, from concept modeling to manufacturing. Stratasys will leverage its industry-leading go-to-market infrastructure to offer RPS’ Neo® line of systems to the global market with an expanded set of applications. Stratasys expects the acquisition to be slightly accretive to revenue and non-GAAP per-share earnings by the end of 2021.
RPS’ Neo line of 3D printers feature dynamic laser beam technology that enables build accuracy, feature detail, and low variability across the full extent of a large build platform. As an open resin system, the Neo products provide customers materials with a wide range of properties such as chemical resistance, heat tolerance, flexibility, durability, and optical clarity. Its products can produce large parts up to 800 x 800 x 600 mm, providing a significant build area in a small footprint.
In addition, all Neo systems are Industry 4.0-ready, with Titanium™ control software that includes a camera, network connectivity, support remote diagnostics, and mid-build parameter customization. The printers can automatically email progress reports on jobs. Stratasys plans to integrate its GrabCAD Print workflow software into future versions of the product.
“As businesses accelerate their adoption of additive manufacturing, our goal is providing our global customers with the world’s best and most complete polymer 3D printing portfolio,” said Stratasys CEO Yoav Zeif. “We believe the Neo products are superior relative to other solutions currently available in the market due to an open choice in resins, low service requirements, and reliable and accurate builds with simple day-to-day operation. With access to our strong global channels and our innovative GrabCAD software, we will bring RPS’ innovative products to many more manufacturing organizations.”
“We developed the Neo line to raise the industry standard for the next generation of large-frame industrial stereolithography 3D printers,” said RPS Director David Storey. “I’m looking forward to continuing to develop this best-in-class technology with the Stratasys team as we bring our products to a broadened global audience.”
Williams Racing, a British Formula 1 racing team, recently acquired multiple Neo 800 3D printers. “The team’s RPS Neo 800 machines ran unmanned over the Christmas break, delivering a huge volume of high-quality parts to our aero test program, a truly astounding achievement,” said Williams Racing Operations Director James Colgate. “I wanted to let you know how impressed we have been with our new Neo 3D printers.”
Industrial stereolithography systems are well-established in the 3D printing industry for applications such as tooling, investment casting patterns, anatomical modeling, orthodontic clear aligner molds and large design parts. They provide quality surface finish, large build sizes, a fast time to print, and an affordable cost per part. The global addressable sector for industrial stereolithography systems is estimated at approximately $150 million and is expected to continue growing at a rate of approximately 10% per year.1
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
1 Estimated market size and annual growth rate based on company and third-party analyst estimates.
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Stratasys is a registered trademark of Stratasys Ltd. and/or its affiliates. Neo is a trademark of RPS Ltd. 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 RPS by Stratasys, Stratasys’ objectives, plans and strategies with respect to RPS following its acquisition, statements that contain projections of results of operations or of financial condition with respect to RPS 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 RPS’ 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 RPS; the degree of success of Stratasys in efficiently and successfully integrating the operations of RPS 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.