After 78.6% of shareholders vote against the proposal, Stratasys decides to terminate the merger with Desktop Metal.


Have you heard the news? Stratasys, a leading 3D printer manufacturer, has made the surprising decision to terminate its deal to acquire Desktop Metal, an industrial 3D printer manufacturer based in Massachusetts. This comes after a preliminary vote where the majority of Stratasys’ shareholders voted against the proposed merger during an Extraordinary General Meeting of Shareholders held on September 28.

As a result of this termination, Stratasys has now begun the process of exploring strategic alternatives. Interestingly, Stratasys’ stock price has actually jumped by 8% following this announcement, whereas Desktop Metal’s stock price has seen a slight decline of 0.4%.

In a statement released by Dov Ofer, the Chairman of Stratasys’ Board of Directors, he explained that the company has decided to undertake a comprehensive review of all available strategic alternatives. Despite this setback, Stratasys remains confident in its position as a leader in the additive manufacturing space and will continue to execute its strategy of innovation and profitable growth. Ofer emphasized that delivering value to customers and maximizing value for shareholders are top priorities for the company.

With the termination of the merger, Desktop Metal will receive compensation in the form of agreed-upon fees. Ric Fulop, Founder and CEO of Desktop Metal, expressed gratitude for the shareholders’ support and confidence in the company’s trajectory. Fulop stated that despite the merger not coming to fruition, Desktop Metal remains committed to reducing costs and generating revenue as customers transition to their AM 2.0 technologies.

This development comes shortly after 3D Systems, another prominent 3D printer manufacturer, submitted a binding offer to acquire Stratasys. However, this offer was rejected by the Stratasys board back on September 12. As part of their offer, 3D Systems urged Stratasys shareholders to vote against the Desktop Metal transaction, labeling it as “value-destructive.”

It will be interesting to see how the additive manufacturing industry evolves from here, especially with these recent developments involving Stratasys, Desktop Metal, and 3D Systems. Make sure to stay updated with the latest news in 3D printing by subscribing to the 3D Printing Industry newsletter and following their social media accounts. If you’re interested in a career in the additive manufacturing industry, be sure to check out the available roles on 3D Printing Jobs.

[Featured image source: Stratasys’ Headquarters in Rehovot, Israel. Photo via Stratasys.]

Original source


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