3D printing and additive manufacturing solutions provider Stratasys Ltd. recently announced that it has entered into a definitive agreement to acquire privately-held GrabCAD Inc., in an all-cash transaction. Terms of the deal were not disclosed, but the transaction is expected to close by the end of September. Upon completion of the transaction, GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group, with Hardi Meybaum, co-founder and CEO of GrabCAD continuing to lead GrabCAD within the group.
Founded in 2010 and led by Meybaum, a man Stratasys called "a visionary entrepreneur and pioneer in 3D CAD cloud collaboration tools," GrabCAD helps engineers get products to market faster by connecting people, content and technology. GrabCAD offers GrabCAD Workbench, a cloud-based collaboration tool that enables engineers and designers to share, view and manage CAD files and other design data. GrabCAD is also home to a community of more than 1.5 million members from around the world who can access a large public CAD file library as well as connect with other engineers.