Australian mineral explorer to acquire low-cost 3D printer company

Image: rapidreadytech.com

ASX-listed mineral explorer Falcon Minerals has announced it will acquire all of US-based consumer 3D printer manufacturer Robo 3D.

Falcon announced in December that it would acquire a 51 per cent stake in the maker of affordable desktop machines. In a statement released yesterday they announced the revised agreement will see them acquire 100 per cent of the company, currently “pursuing an aggressive sales expansion program aimed at leading “bricks & mortar” retailers such as Best Buy, Costco, Staples, Target and Walmart.”

According to Robo 3D, the company earned revenues of $US 4.6 million for the 12 months to this June, up from $US 2.4 million in the corresponding period a year earlier.

“This is the start of a new journey that will allow us to invest in growing out the business, advancing consumer 3D printing technology, and fulfilling our goal of putting 3D printers in millions of homes around the world,” Robo 3D’s co-founders said in the release.