Stratasys on Wednesday acquired Solid Concepts and Harvest Technologies, two privately held companies focused on additive manufacturing services.
Additive manufacturing uses 3D printing to create parts and production on the fly.
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The plan for Stratasys, one of the larger 3D printing players along with 3D Systems, is to combine Solid Concepts, Harvest Technologies with its RedEye digital manufacturing services business. The combination will create an additive manufacturing unit run by Joe Allison, president of Solid Concepts.
With the moves, Stratasys will bolster its services business to go with its software and hardware. The formula is well established in enterprise technology.
Stratasys said the acquisitions should add to its earnings 12 months after the deals close. Stratasys said it paid $295 million for Solid Concepts and an undisclosed sum for Harvest Technologies.
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As for the acquisitions, Solid Concepts, founded in 1991, is focused on vertical manufacturing including medical and aerospace. Solid Concepts has annual revenue of about $65 million and 450 employees.
Harvest Technologies specializes in parts production, materials and systems. The company was founded in 1995 and has 80 employees.