Protolabs Completes Acquisition of 3D Hubs

IndustryPRwire - Proto Labs, a global technology-enabled digital manufacturing leader, today announced that it has completed its acquisition of 3D Hubs, a leading online manufacturing platform that provides customers with on-demand access to a global network of approximately 240 premium manufacturing partners. The completion of this transaction creates the world’s most comprehensive digital manufacturing offer for custom parts.

3D Hubs brings two great benefits to Protolabs’ customers: a complementary network of manufacturing partners to fulfill a breadth of capabilities outside of its current envelope, and a broader selection of pricing and lead time options. Protolabs’ and 3D Hubs’ customer offerings are very complementary, and this expansion of services and capabilities reinforces Protolabs’ commitment to delight its customers and become the go-to supplier in the global custom contract manufacturing market.

Protolabs acquired 3D Hubs for aggregate closing consideration of $280 million, consisting of $130 million in cash and $150 million in Protolabs stock. Contingent consideration of up to $50 million is payable based on the achievement of financial performance targets in 2021 and 2022. 3D Hubs generated approximately $25 million of revenue in 2020. As previously indicated on January 19, 2021, the acquisition is expected to be accretive to Protolabs’ growth rate and slightly dilutive to non-GAAP earnings per share in 2021.

Related Posts

Subscribe Our Newsletter