|By Business Wire||
|April 24, 2014 05:00 AM EDT||
Proto Labs, Inc. (NYSE: PRLB), a leading online and technology-enabled quick-turn manufacturer, has announced today the launch of its additive manufacturing service through the acquisition of privately held FineLine Prototyping, Inc. a leading provider of additive manufacturing services.
The addition of additive manufacturing expands Proto Labs services to address a wider spectrum of need for the product developer. From concept models, to form and fit testing, to functional testing and short-run production, no other company can supply a broader range of quick-turn custom parts with the speed, reliability and consistency of Proto Labs.
FineLine, based in Raleigh, North Carolina, offers high-quality stereolithography, selective laser sintering and direct metal laser sintering services to corporate customers in a wide variety of industries, including medical, aerospace, computer/electronics, consumer products and industrial machinery, among others. FineLine has a stellar reputation for delivering high-quality, precision, rapid-prototype parts, ranging from small, highly-detailed parts to large patterns.
Fine Line generated revenues of approximately $9.7 million in 2013. Under terms of the agreement, Proto Labs will acquire FineLine for total consideration of $38 million. Proto Labs will continue to operate the FineLine facility out of Raleigh, and expects to retain the services of all key employees, including FineLine principals Rob Connelly and Craig Goff to lead the global additive manufacturing services. Proto Labs expects the acquisition of FineLine to be accretive to Proto Labs earnings per share by the fourth quarter of 2014.
The addition of an additive manufacturing service is highly complementary to Proto Labs’ existing CNC machining and injection molding services. Historically, 70% of Proto Labs customers also utilize an additive manufacturing service in their product development process. Proto Labs will announce its new additive manufacturing service to its substantial database of over 300,000 product developers to leverage the inherent synergy this new service provides.
“We are excited to launch our new additive manufacturing service,” said Vicki Holt, Proto Labs President and CEO. “The FineLine acquisition is the first step in building this new service. We will look to expand our additive manufacturing capabilities in the US, as well as globally, through both organic growth and potential new acquisitions. Our customers have been asking us to provide additive manufacturing services for quite some time, and now we can address that need. We’re accepting orders starting today.”
Piper Jaffray & Co. acted as financial advisors to Proto Labs and Faegre Baker Daniels LLP acted as legal advisors to Proto Labs.
The company has scheduled a conference call to discuss these developments today, April 24, 2014 at 8:30 a.m. ET. To access the live call, please dial 866-825-1709 or outside the U.S. 617-213-8060, at least five minutes prior to the 8:30 a.m. start time and use participant code 60779619#. A simultaneous webcast of the call will also be available on the investor relations section of the company’s website at www.protolabs.com/investors. An audio replay will be available for 14 days following the call on the investor relations section of Proto Lab’s website.
About Proto Labs, Inc.
Proto Labs, Inc. is a leading online and technology-enabled quick-turn manufacturer of custom parts for prototyping and short-run production. Proto Labs provides “Real Parts, Really Fast” to product developers worldwide. Proto Labs uses computer numerical control (CNC) machining, injection molding, and additive manufacturing to manufacture custom parts for our customers. For more information, visit www.protolabs.com.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Oct. 1, 2016 02:30 AM EDT Reads: 2,712
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Oct. 1, 2016 02:30 AM EDT Reads: 643
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Oct. 1, 2016 02:30 AM EDT Reads: 518
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Oct. 1, 2016 02:30 AM EDT Reads: 3,019
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Oct. 1, 2016 02:15 AM EDT Reads: 2,119
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Oct. 1, 2016 02:15 AM EDT Reads: 514
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Oct. 1, 2016 02:15 AM EDT Reads: 757
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Oct. 1, 2016 02:15 AM EDT Reads: 5,452
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Oct. 1, 2016 01:45 AM EDT Reads: 509
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Oct. 1, 2016 01:15 AM EDT Reads: 718
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Oct. 1, 2016 01:15 AM EDT Reads: 3,044
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software sec...
Oct. 1, 2016 12:15 AM EDT Reads: 1,427
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 30, 2016 11:30 PM EDT Reads: 773
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Sep. 30, 2016 10:45 PM EDT Reads: 1,540
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Sep. 30, 2016 10:00 PM EDT Reads: 1,265