U.S. firm buys Estonian start up for $100 million

  • 2014-09-16
  • From wire reports, TALLINN

(photo: twitter)

An Estonian start up has been bought by the world's largest manufacturers of 3D printers for 100 million dollars.

The deal was struck between Estonia's GrabCAD and Stratasys on Tuesday, Postimees Online reports.

GrabCAD co-founder and CEO Hardi Meybaum said: "GrabCAD was created with the idea of bringing together engineers throughout the world, and help them to work together to bring better products to market faster.

"By joining forces Stratasys, the market leader in 3D printing, it is possible for us to expand the scope of one of the world's most exciting and innovative technologies in the field of design."

Created in 2010, GrabCAD has been called a social network for engineers. The Tallinn based firm developed the CAD software meant for engineers and has made available to engineers across the world cloud-based 3D CAD cooperation solutions and tools.

GrabCAD has more than 1.5 million users who have access to a public collection of CAD files and the opportunity to be in contact with engineers from all over the world.