Business
Xometry Acquires Thomas, Accelerating the Manufacturing Industry’s Digital Transformation
Accelerates Growth of Xometry's MarketplaceCreates Exceptional Scale of Buyers and ManufacturersEstablishes End-to-End Suite of Seller Services, Including
About this update from Xometry, Inc.
[{"type":"text","content":"Accelerates Growth of Xometry's MarketplaceCreates Exceptional Scale of Buyers and ManufacturersEstablishes End-to-End Suite of Seller Services, Including Additional Fintech, Digital Marketing ProductsEnhances Margins and Accelerates Path to Profitability ROCKVILLE, Md., Dec. 08, 2021 (GLOBE NEWSWIRE) -- Xometry (NASDAQ: XMTR), the global marketplace for on-demand manufacturing, today announced the acquisition of Thomas (Thomasnet.com®), a leader in product sourcing, supplier selection and digital marketing solutions. The cash and stock transaction, valued at $300 million, is expected to close this week. Xometry’s rapidly growing digital marketplace provides real-time access to global manufacturing capacity and demand, helping accelerate the digitization of the manufacturing industry. The acquisition of Thomas is expected to rapidly expand Xometry’s buyer and seller base, significantly enhancing Xometry’s global digital marketplace for manufacturers. Xometry also expects to leverage Thomas’ marketing and data services to deliver an unmatched suite of end-to-end services for sellers with additional fintech and digital marketing products. “Xometry and Thomas share a common mission of championing the digital transformation of the manufacturing industry, one of the largest sectors of the global economy and the foundation for innovation everywhere,” said Randy Altschuler, CEO of Xometry. “Thomas brings strong brand equity, trusted and extensive relationships, proprietary data and advanced full-funnel marketing services – assets that perfectly complement our digital marketplace. Together, we will introduce new services, cross-sell to our combined base and expand our suite of products, particularly in fintech and digital marketing.” “Thomas has a long and proud history of bringing active buyers and sellers together on our Thomasnet.com platform and providing the data and marketing services that inform decision-making,” said Tony Uphoff, President and Chief Executive Officer of Thomas. “In joining forces with Xometry, we’re uniting our products with the power of the Xometry marketplace so we can do even more for industry together.” An industry leader in on-demand manufacturing, Xometry connects enterprise buyers across industries such as aerospace, consumer products, defense, industrial, automotive, medical, energy, robotics, green-tech...