Industrial 3D printer maker Stratasys Ltd (SSYS.O) will buy privately held consumer printer maker MakerBot in a stock deal valued currently at about $403 million to expand its product portfolio.
Stratasys will initially issue about 4.76 million shares in exchange for the outstanding capital stock of MakerBot, the companies said in a statement.
MakerBot stakeholders will also qualify for performance-based earn-outs that provide for the issue of up to an additional 2.38 million shares through the end of 2014.
Stratasys shares rose 1 percent in after-market trading. They closed at $84.60 on the Nasdaq on Wednesday.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Sriraj Kalluvila)