Stratasys: Israeli Additive Manufacturing

By The Olam Editorial Team · Aug 3, 2026

Nasdaq: SSYS. 2012 merger of US Stratasys (FDM, 1989) and Israeli Objet Geometries (PolyJet, 1998). CEO Yoav Zeif. Survived three hostile takeover attempts in 2023. Acquiring Markforged from Nano Dimension for $42.5M. US Navy deployed 25 F900 systems on battleships. The largest listed pure-play in additive manufacturing.

At a Glance

Company	Stratasys Ltd.
Ticker	Nasdaq: SSYS
Formation	2012 merger of Stratasys Inc. (US, 1989) and Objet Geometries (Israel, 1998)
Dual HQ	Rehovot, Israel · Minnetonka, Minnesota
CEO	Dr. Yoav Zeif (ex-McKinsey Tel Aviv)
Technology platforms	FDM, PolyJet, SAF, P3
Q4 2025 revenue	$140M

The two founding stories

Stratasys is the product of two founding stories on opposite sides of the world.

The American side: Scott Crump and FDM (1989). S. Scott Crump co-founded Stratasys Inc. in 1989 in Eden Prairie, Minnesota, after inventing Fused Deposition Modeling (FDM). FDM became the foundational technology of the entire 3D printing category. Stratasys Inc. went public on Nasdaq in 1994 and grew into the world's largest FDM system manufacturer.

The Israeli side: Objet Geometries and PolyJet (1998). Objet Geometries was founded in 1998 in Rehovot, Israel. Its core innovation was PolyJet technology — a process that jets multiple photopolymer materials simultaneously, curing them with UV light. Where FDM builds strong functional prototypes, PolyJet builds detailed, multi-material models suited to design verification and medical modeling. David Reis served as CEO.

In 2012, the two companies merged to create Stratasys Ltd. — Israeli-domiciled, dual-headquartered, and instantly the world's largest pure-play additive manufacturing company. The merger combined FDM's industrial installed base with PolyJet's precision capabilities.

The product platform

Stratasys operates four distinct 3D printing technology platforms: FDM (fused deposition modeling), PolyJet (multi-material jetting), SAF (selective absorption fusion), and P3 (from Origin acquisition). GrabCAD Print is the software platform that unifies workflow across all four.

FDM. The legacy platform for functional prototypes and manufacturing tools. The F900 — Stratasys's largest FDM system — is deployed across aerospace (Boeing, Airbus), automotive, and defense. The US Navy acquired 25 F900 systems for installation on battleships.

PolyJet. Multi-material, multi-color jetting for design verification, medical models, and dental applications. From the Israeli Objet Geometries side of the merger.

SAF and P3. Advanced polymer systems for production-volume applications and high-precision manufacturing.

The 2023 M&A war

2023 was the most contested year in 3D printing M&A history. Stratasys faced three simultaneous takeover attempts and survived all of them. In May 2023, Stratasys and Desktop Metal announced a $1.8 billion all-stock merger that ultimately failed. 3D Systems launched a counter-bid; Stratasys rejected it. Nano Dimension, with a 15%+ Stratasys stake, launched a hostile tender offer; the board unanimously rejected it.

The aftermath: Nano Dimension acquired Desktop Metal for $179.3 million, closing April 2, 2025 (a fraction of the $1.8 billion merger value Stratasys and Desktop Metal had originally agreed to). By July 2025, Desktop Metal was bankrupt under Nano ownership — 117 days after the acquisition closed.

Markforged acquisition (2026)

Stratasys announced a definitive agreement to acquire Markforged — a wholly owned Nano Dimension subsidiary — for $42.5 million in cash, roughly 36 cents on the dollar versus the $116 million Nano Dimension had paid for it in 2024. Markforged generated approximately $70 million in revenue in 2025, including metal binder jetting product lines. The acquisition gives Stratasys an immediate position in metal 3D printing — a capability CEO Zeif had identified as strategic priority but deferred until the technology was mature.

Zeif's strategy: polymer first, then metal

Dr. Yoav Zeif joined as CEO from McKinsey's Tel Aviv office. His strategic framework: consolidate polymer platform for production-scale manufacturing first, then expand into metals. Under Zeif, Stratasys acquired RPS, Xaar 3D, Origin, and Covestro Additive Manufacturing — all polymer-focused. The Markforged acquisition marks planned expansion into metal.

The US Navy F900 deployment — 25 systems on battleships with full ROI achieved within months — is the reference case for production-adoption thesis.

Revenue and outlook

Q4 2025 revenue of $140 million was down from $150.4 million in Q4 2024, with a net loss of $18.9 million. Management has framed 2025 as a year of tighter cost control and improved cash flow in preparation for the next growth phase.

Frequently Asked Questions

Is Stratasys Israeli?
Stratasys is Israeli-domiciled, dual-headquartered in Rehovot and Minnetonka. The Israeli engineering center (from Objet Geometries) is the primary R&D operation for PolyJet and advanced materials.

How is Stratasys connected to Nano Dimension?
The two are the leading listed rivals in additive manufacturing. Nano Dimension held a 15%+ stake in Stratasys and launched a hostile tender offer in 2023 that the Stratasys board rejected. In 2026, the relationship reversed: Stratasys agreed to acquire Markforged — a Nano Dimension subsidiary — for $42.5 million, a steep discount to the $116 million Nano had paid for it in 2024.

What happened to the 2023 Desktop Metal merger?
Stratasys and Desktop Metal announced a $1.8 billion all-stock merger in May 2023. The deal ultimately collapsed amid competing bids from 3D Systems and Nano Dimension. Desktop Metal was later acquired outright by Nano Dimension for $179.3 million (closing April 2, 2025) and filed for Chapter 11 bankruptcy roughly four months later.

What are Stratasys's core technology platforms?
Four: FDM (fused deposition modeling, from the original US Stratasys), PolyJet (multi-material jetting, from Israeli Objet Geometries), SAF (selective absorption fusion), and P3 (from the Origin acquisition). GrabCAD Print unifies workflow across all four.

Who leads Stratasys, and what is the company's strategy?
CEO Dr. Yoav Zeif, previously of McKinsey's Tel Aviv office, has pursued a polymer-first, metal-second consolidation strategy — acquiring RPS, Xaar 3D, Origin, and Covestro Additive Manufacturing before the 2026 Markforged deal brought metal 3D printing in-house.

What is the significance of the US Navy F900 deployment?
The US Navy installed 25 F900 systems on battleships, reaching full ROI within months — the reference case Stratasys cites for production-scale adoption of additive manufacturing in defense and industrial settings.