Stratasys, a leader in 3D printing solutions, has acquired Covestro’s additive manufacturing materials business and will work with partners to accelerate the development of next-generation materials for manufacturing.

Stratasys announced today that it has entered into a definitive agreement to acquire Covestro AG's additive manufacturing materials business.

The acquisition is valued at €43 million (about 57.7 billion won), and is expected to generate potential revenues of up to €37 million (about 49.6 billion won) depending on the achievement of various performance indicators.

The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and other terms and conditions. The majority of the acquired company’s employees will continue to be based in Gelin, the Netherlands and Elgin, Illinois, USA. The acquisition includes R&D facilities and activities, a global development and sales team across Europe, the United States and China, a portfolio of approximately 60 additive manufacturing materials, and an extensive IP portfolio of hundreds of patents and patent applications.

Covestro is a key part of Stratasys’ third-party materials ecosystem and the acquisition is expected to benefit customers using several of Stratasys’ 3D printing platforms, including the Origin P3™, Neo® stereolithography and H350™ printers. Stratasys is currently a distributor for Covestro's Somos® resin, which is sold for use in its Neo and Origin® One 3D printers.

“Innovative materials are the driving force behind additive manufacturing, enabling new use cases for 3D printing in end-use parts such as dental aligners and automotive components,” said Yoav Zeif, CEO of Stratasys. “The acquisition of Covestro’s industry-leading additive manufacturing business will enable Stratasys to further accelerate the adoption of our cutting-edge technology, giving us the ability to accelerate cutting-edge development of 3D printing materials and further advance our strategy of delivering the industry’s most complete, best-in-class polymer 3D printing portfolio.”