Stratasys Ltd., whose founder invented the technology that laid the foundation for 3-D printing, will acquire MakerBot Industries LLC in a $403 million stock-for-stock transaction, the companies announced.
When the deal closes, privately held "MakerBot will operate as a separate subsidiary of Stratasys, maintaining its own identity, products and go-to-market strategy," the companies said in a news release.
The companies said they expect the merger to close in the third quarter.
Founded in 2009, Brooklyn, N.Y.-based MakerBot has sold more than 22,000 desktop 3-D printers.
"MakerBot's 3-D printers are rapidly being adopted by CAD-trained designers and engineers," said David Reis, CEO of Minneapolis-based Stratasys. "[MakerBot co-founded and CEO] Bre Pettis and his team at MakerBot have built the strongest brand in the desktop 3-D-printer category by delivering an exceptional user experience.
"MakerBot has impressive products, and we believe that the company's strategy of making 3-D printing accessible and affordable will continue to drive adoption."
Pettis will continue to lead MakerBot, the companies said.
"The last couple of years have been incredibly inspiring and exciting for us," Pettis said in a news release. "We have an aggressive model for growth, and partnering with Stratasys will allow us to supercharge our mission to empower individuals to make things using a MakerBot, and allow us to bring 3-D technology to more people."
A growing number of design and engineering professionals are using desktop 3-D printers, according to the companies.
Stratasys and MakerBot estimate that as many as 40,000 desktop 3-D printers were sold in 2012-and the companies expect that number to double this year.