MINNEAPOLIS (AP) - Stratasys, a leading maker of 3-D printers, is buying another 3-D printer manufacturer, MakerBot, for $403 million in stock.
MINNEAPOLIS (AP) — Stratasys, a leading maker of 3-D printers, is buying another 3-D printer manufacturer, MakerBot, for $403 million in stock.
Stratasys Ltd. says the acquisition will enable it to offer affordable desktop 3-D printers.
MakerBot's owners will receive 4.76 million newly issued Stratasys shares and are eligible for another 2.38 million through the end of 2014 if certain performance targets are met. That could raise the purchase price by about $201 million based on Wednesday's stock price.
The merger is expected to be completed in the third quarter of this year.
Stratasys is based in Eden Prairie, Minn., and Rehvot, Israel. It shares rose nearly 2 percent in after-hours trading to $86. New York-based MakerBot is privately held.