Source: GrabCAD website

Computer-Aided Design (CAD) startup GrabCAD of Cambridge has been acquired by Stratasys (NASDAQ: SSYS), a Minnesota-based 3D printer and 3D production systems maker. The transaction is expected to be completed by the end of September and upon completion, GrabCAD will operate as a unit within the Stratasys Global Products and Technology Group, while co-founder and CEO Hardi Meybaum will remain as head of the company.

GrabCAD was founded in Estonia by Hardi Meybaum, and moved its headquarters to Boston to take part in the Techstars accelerator program in 2011. GrabCAD is a community of more than 1 million engineers, designers, and CAD fans who share and collaborate on three-dimensional models through the site. Besides the library of free models that engineers can adapt or combine, GrabCAD also created a tool last year called Workbench that made it possible for engineers and companies to work privately on CAD design projects through the site. Some of the engineers that use GrabCAD’s social network work for General Electric, Pebble, Tiffany & Co, Patterson Medical and Miselu.

Prior to the acquisition, GrabCAD raised a total of about $13.6 million in funding from investors such as NextView Ventures, Charles River Ventures, Matrix Partners, Atlas Venture, Seedcamp, David Sacks, Angus Davis and Alex Ott.

“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.”

From initial design, through revisions, to printing

The move to acquire GrabCAD, combined with several other recent acquisitions, gives Stratasys control over more aspects of the 3D printing process from initial design through revisions to printing. With GrabCAD, Stratasys will be able to further build out its 3D printing ecosystem. Stratasys Chief Executive Officer David Reis said: ”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.”

Stratasys was founded in Eden Prairie, Minnesota, in 1989, and merged with Israel-based 3D manufacturer Objet Ltd., in 2012. The company’s patented FDM®, PolyJet™ and WDM™ 3D Printing technologies produce prototypes and manufactured goods directly from 3D CAD files or other 3D content.

In 2013, the company acquired MakerBot Industries, one of the most well-known consumer-focused 3D printer companies, for $403 million. (Brooklyn-based Makerbot has a brick-and-mortar shop on Newbury Street.) Earlier this year, Stratasys also acquired Solid Concepts and Harvest Technologies.

With their corporate headquarters in Minneapolis – Minnesota, and Rehovot – Israel, Stratasys has 26 regional offices, four manufacturing locations, more than 2,500 employees, more than 260 resellers, holds over 600 granted or pending additive manufacturing patents globally, and has received more than 25 awards for its technology and leadership.