GrabCAD Sold for a Reported €77 Million (3)
The world's largest 3D printer manufacturer, Stratasys, signed a deal to buy GrabCAD, an Estonian-founded startup, on Tuesday.
The sale will be finalized at the end of the month with CEO Hardi Meybaum continuing as head of the company. Techcrunch.com valued the sale at around 100 million US dollars, or 77 million euros.
Meybaum said the two companies share the same vision of the evolution of design and manufacturing, adding that GrabCAD will now have better resources to develop.
GrabCAD is a collaborative product development tool designed to help engineering teams manage, view and share computer-aided design files. It has more than one million users.
The company was founded in 2009 by Meybaum in Estonia, but moved to the United States in 2011.