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Stratasys bid to buy Desktop Metal fails, company seeks 'strategic alternatives'

Sept. 28, 2023
The 3D printer company’s management lost a high-profile proxy fight with investors who had been pushing for a takeover of Stratasys by its rivals.

Stratasys’ top management failed to convince investors that its vision of merging its plastics and polymers 3D-printer technologies with rival Desktop Metal’s metal additive manufacturing systems provided the best paths to future profits.

Investors on Sept. 28 rejected that deal, and the company’s board is now exploring “strategic alternatives,” corporate speak for putting the Israel- and Minnesota-based company up for sale. It already has too bidders. Rivals 3D Systems and Nano Dimension had submitted bids to buy Stratasys in recent months, and those two rivals had actively been encouraging investors to vote against the Desktop Metal purchase.

Previous Stratasys-Desktop Metal Coverage

“We have decided to undertake a comprehensive and thorough review of all available strategic alternatives,” said Dov Ofer, chairman of Stratasys’ board of directors.

The rejection of the shareholder vote is a major rebuke of CEO Yoav Zeif’s vision for additive manufacturing’s future, something he spelled out at length in recent interviews with IndustryWeek (a sister brand to Smart Industry) and other publications. Zeif said combining metal and polymer technologies under one company would make 3D printing more attractive to manufacturers worldwide.

About the Author

Robert Schoenberger | Editor-in-Chief



Twitter: @Rschoenb 

Bio: Robert Schoenberger has been writing about manufacturing technology in one form or another since the late 1990s. He began his career in newspapers in South Texas and has worked for The Clarion-Ledger in Jackson, Mississippi; The Courier-Journal in Louisville, Kentucky; and The Plain Dealer in Cleveland where he spent more than six years as the automotive reporter. In 2013, he launched Today's Motor Vehicles, a magazine focusing on design and manufacturing topics within the automotive and commercial truck worlds. He joined IndustryWeek in late 2021 and took on responsibility for Smart Industry in 2023.