Along with SpaceClaim being acquired by ANSYS earlier this year, the CAD consolidation train moves to its next stop with Stratasys announcing that it has entered into a definitive agreement to acquire privately-held GrabCAD in an all-cash transaction.
Stratasys Ltd, of course, is one of the leading global providers of 3D printing and additive manufacturing solutions. Terms of the transaction were not disclosed, but is rumored to be in the $100 million range. The transaction is expected to be completed by the end of September (that’s today!), subject to the fulfillment of customary closing conditions. Upon completion of the transaction, GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group. Hardi Meybaum, co-founder and CEO of GrabCAD, will continue to lead GrabCAD within the group.
The company’s flagship product, GrabCAD Workbench is its cloud-based PDM for sharing and managing CAD files. The video provides a quick overview of GrabCAD Workbench.
What IS GrabCAD Workbench?
For those new to GrabCAD, it’s unique in that it’s more of a 3D CAD collaboration platform than it is a traditional CAD product. Launched earlier this, GrabCAD Workbench is a unique cloud-based collaboration hub designed to manage and share product development CAD files and other design data. In other words, a PDM system.
Founded in 2010 and led by Mr. Meybaum, a visionary entrepreneur and pioneer in 3D CAD cloud collaboration tools, GrabCAD is helping 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 global members who can access a large public CAD file library, as well as connect with other designers and engineers.
The acquisition should enable Stratasys to provide its customers with enhanced collaboration tools and improved accessibility relating to 3D CAD content. The addition of GrabCAD Workbench provides Stratasys with an opportunity to drive communication and collaboration throughout the 3D printing process and grow its technology solutions and user communities.
“The addition of GrabCAD provides Stratasys with a leading cloud-based collaboration platform for engineering teams to manage, share and view CAD files,” said David Reis, Stratasys Chief Executive Officer. “By increasing the collaboration and accessibility of 3D CAD files, we believe we can further accelerate the adoption of 3D printing solutions and Stratasys’ product offerings. Together with GrabCAD, we believe that we will accelerate innovation and provide increased value to a growing universe of customers seeking to utilize 3D printing solutions. We also welcome GrabCAD’s active and important community to the Stratasys family. The potential within our 3D ecosystem is very exciting.”
“GrabCAD was founded to bring the world’s engineers together and help them collaborate to bring better products to market faster,” said Hardi Meybaum, Chief Executive Officer of GrabCAD. “By joining forces with Stratasys, a global leader in 3D printing and additive manufacturing, we believe we can extend the reach of one of the most exciting and innovative design collaboration technologies available. With its broad and growing customer base and worldwide presence, Stratasys can provide more customers around the world with exciting new solutions to meet their design needs.”
Prior to the acquisition, GrabCAD had a number of relationships with CAD vendors for making it easier for users of products, such as Autodesk Fusion and Siemens Solid Edge to use the cloud-based service. It seems that the cloud-based nature of GrabCAD is what especially interested/enticed Stratasys for the acquisition.
The potential benefits are many, and through its acquisition of GrabCAD, Stratasys expects to gain:
- Knowledge: With the addition of GrabCAD, Stratasys gains a team of software professionals with a deep understanding of the needs of designers and engineers.
- Products: GrabCAD’s cloud-based collaboration platform, Workbench, will enable Stratasys to offer customers a solution to drive communication and ease of use throughout the design and 3D printing process. GrabCAD also provides Stratasys with the opportunity to further partner with CAD vendors and other ecosystem partners while offering innovative collaboration tools related to 3D CAD.
- Community: GrabCAD has built a global, leading and fast growing community of mechanical engineers and designers, with 1.5 million users who are passionate about design. This includes a large online community of M-CAD users and a significant public online repository of free CAD files, with more than 500,000 CAD designs available for download and nearly 50,000 file downloads per day.