Stratasys (SSYS Quick QuoteSSYS - Free Report) recently concluded the acquisition of Germany-headquartered Covestro AG’s additive manufacturing (AM) materials business unit. Through this deal, the company acquired Covestro AG’s portfolio of around 60 AM materials, an extensive intellectual property portfolio consisting of both patents and patents pending, research & development facilities and activities, global development and sales teams across Europe, the United States and Asia.

The buyout is likely to expand Stratasys’ differentiated 3D printed materials portfolio in stereolithography, digital light processing and powder bed fusion, like Selective Absorption Fusion (SAF) technology, enabling it to address complex manufacturing industry applications. The newly added AM materials will be available as part of Stratasys Somos and Addigy brands.

The latest move will aid Stratays in building up engagements with all Covestro customers and partners. The portfolio expansion is likely to benefit its existing customers with greater global sales, service and support infrastructure. The company will continue to fully support its customer base even if the newly added materials are employed with third-party 3D printers.

Stratasys recently received a revised takeover proposal from the Israel-based 3D printed electronics systems and additive manufacturing company, Nano Dimension. This time, the acquiring firm raised its offer at $20.05 per share in cash, just after the SSYS Board unanimously rejected the revised unsolicited proposal offered on Mar 29, 2023 to acquire the company for $19.55 per share in cash.
 

Stratasys has been scaling newer heights across all its business segments. It has been benefiting from an increase in demand for 3D-printed materials and its focus on product launches and strategic partnership agreements or acquisitions.

This week, the company signed a joint development and commercialization agreement with Israel-based regenerative medicine company, CollPlant Biotechnologies, to develop a solution that bio-fabricates human tissues and organs. In March, Stratasys received an order from Götz Maschinenbau, a German service bureau, for four of its high-speed H350 3D printers. This will turn Götz’s total fleet size to six systems, making it the leading user of SAF technology among service bureaus in European, Middle Eastern and African markets.

In February, Stratasys signed an agreement with Ricoh USA, Inc. to provide on-demand 3D-printed anatomic models for clinical settings. In the same month, it launched a first-ever monolithic and full-color 3D printed permanent dentures solution, TrueDent, specifically designed for the fabrication of dental appliances, including removable dentures and temporaries. This transformative solution for the dental industry not only simplifies the denture manufacturing process but also lowers the costs, allowing for dentures and temporaries to be produced much faster, achieving incredible aesthetics.

Last year, Stratasys enhanced its dental solution portfolio with the launch of Origin One Dental 3D printer, which provides comprehensive additive manufacturing solutions to the dental industry. In the same year, it launched a new cybersecurity solution for additive manufacturing named ProtectAM and unveiled J5 MediJet, a compact medical 3D printer that integrates multiple applications into one system, enabling the creation of intricate 3D anatomical models.

Stratasys’ remarkable growth journey and strong prospects have made it a takeover target of late. In April, it received a revised takeover proposal from the Israel-based 3D printed electronics systems and additive manufacturing company, Nano Dimension. This time, the acquiring firm raised its offer at $20.05 per share in cash, just after the SSYS Board unanimously rejected the revised unsolicited proposal offered on Mar 29, 2023 to acquire the company for $19.55 per share in cash.

Zacks Rank & Other Key Picks

Stratasys currently carries a Zacks Rank #2 (Buy). Shares of SSYS have plunged 31.2% in the past year.

Some other top-ranked stocks from the broader Computer and Technology sector are Airbnb (ABNB Quick QuoteABNB - Free Report) , Baidu (BIDU Quick QuoteBIDU - Free Report) and Fabrinet (FN Quick QuoteFN - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here.

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