Integration of Cloud Native Simulation Software
into Markforged’s Digital Forge Platform Will Enable Manufacturers
to Validate Advanced Composite Parts for the Most Demanding
Production Applications
Markforged (NYSE: MKFG), creator of the integrated metal and
carbon fiber additive manufacturing platform, The Digital Forge,
today announced the acquisition of Teton Simulation Software
(“Teton”), whose SmartSlice™ technology automates validation and
optimizes part performance for additive manufacturing
applications.
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Markforged acquires Teton Simulation
Software. (photo: Business Wire)
Markforged will integrate Teton’s technology with its 3D
printing software solution, Eiger™, as a subscription add-on that
will offer all manufacturing customers, including small- and
medium-sized businesses, a streamlined workflow spanning part
design, testing, optimization, validation and printing at the point
of need, all on a single, cloud-based platform. The acquisition
enhances Markforged’s lead in distributed manufacturing by
extending its end-to-end platform with fast, automated validation
of the most demanding end-use parts and applications.
The acquisition adds strategic functionality to the Digital
Forge to give Markforged’s thousands of users confidence that
printed parts will perform as intended, enabling them to replace
even more end-use metal parts with validated Continuous Fiber
Reinforcement (CFR). This addition to Markforged’s software
offerings will help customers take the guesswork out of configuring
slicing parameters for end-use requirements, knowing they can
estimate part performance without the wasteful and slow process of
physical testing.
Founded in 2016 in Wyoming, Teton is an expert in software
technology built to enable rapid validation and optimization of 3D
print parameters to ensure that performance and manufacturing
requirements are realized. Teton’s SmartSlice™ product integrates
with slicer programs and replaces the typical print-break-repeat
prototyping cycle which speeds up development and reduces the time
and cost of production-quality parts. Teton’s team will join
Markforged’s software organization to help expand the number of
industrial problems that The Digital Forge solves.
“Software is the core of Markforged's solution and our
competitive edge. The acquisition of Teton Simulation advances our
industry leadership in using software to increase process
automation and offers our customers an easy way to validate their
parts on the same platform they use to print them. Adding this
functionality enables our customers to utilize The Digital Forge
deeper into their manufacturing operations,” said Shai Terem,
President and CEO of Markforged. “I am excited to welcome the Teton
team to Markforged, as we share the vision of leading the future of
distributed manufacturing. Together, we continue to strengthen our
team and enable our customers to produce mission-critical, end use
parts.”
“Our team believes in the potential of additive technologies to
truly change how we manufacture things, and have worked tenaciously
to design a software offering that enables broader adoption of
additive,” said Doug Kenik, CEO of Teton Simulation. “Joining
Markforged integrates our technology into a state-of-the-art
solution that will reach a broader customer base, and offer
resources to scale it. We love the cultural fit with the Markforged
team.”
“Teton’s integration and fit with Markforged’s tech stack
provides the perfect home to develop the next level of additive
manufacturing solutions,” said Brady Adams, CTO, Teton Simulation.
“So many elements of The Digital Forge, including CFR, are game
changers and I am so excited to get an opportunity to integrate our
advanced simulation technology to help manufacturers all over the
world take additive to the next level.”
Terms of the acquisition are not being disclosed.
About Teton Simulation Teton Simulation develops software
products that enhance the productivity of producing 3D printed
parts. SmartSlice takes the guesswork out of optimizing a part for
minimum print time and material use while ensuring that end-use
performance requirements are met. The company’s hallmark is
providing software that is simple to use while providing very fast,
reliable results. www.tetonsim.com
About Markforged Markforged (NYSE: MKFG) is reimagining
how humans build everything by leading a technology-driven
transformation of manufacturing with solutions for enterprises and
societies throughout the world. The Markforged Digital Forge brings
the power and speed of agile software development to industrial
manufacturing, combining hardware, software, and materials to solve
supply chain problems right at the point-of-need. Engineers,
designers, and manufacturing professionals all over the world rely
on Markforged metal and composite printers for tooling, fixtures,
functional prototyping, and high-value end-use production.
Markforged is headquartered in Watertown, Mass., where it designs
its products with over 400 employees worldwide. To learn more,
visit www.markforged.com.
Special Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are
based on beliefs and assumptions and on information currently
available. In some cases, you can identify forward-looking
statements by the following words: “may,” “will,” “could,” “would,”
“should,” “expect,” “intend,” “plan,” “anticipate,” “believe,”
“estimate,” “predict,” “project,” “potential,” “continue,”
“ongoing” or the negative of these terms or other comparable
terminology, although not all forward-looking statements contain
these words. These statements involve risks, uncertainties and
other factors that may cause actual results, levels of activity,
performance or achievements to be materially different from the
information expressed or implied by these forward-looking
statements. Although Markforged believes that it has a reasonable
basis for each forward-looking statement contained in this press
release, Markforged cautions you that these statements are based on
a combination of facts and factors currently known by it and its
projections of the future, about which it cannot be certain.
Forward-looking statements in this press release include, but are
not limited to, the anticipated synergies of the combined
companies, the successful and/or timely integration of the
Smartslice solution into Markforged’s products and the potential
benefits customers may realize from such integration. Markforged
cannot assure you that the forward-looking statements in this press
release will prove to be accurate. These forward looking statements
are subject to a number of risks and uncertainties, including,
among others, the possibilities, that the anticipated synergies of
this transaction may not be achieved and that the combined
technologies may not be successfully integrated in a timely manner
or at all; general economic, political and business conditions; the
ability of Markforged to maintain its listing on the New York Stock
Exchange; the effect of COVID-19 on Markforged’s business and
financial results; the outcome of any legal proceedings against
Markforged; and those factors discussed under the header “Risk
Factors” in Markforged’s most recent periodic and other filings
with the SEC. Furthermore, if the forward-looking statements prove
to be inaccurate, the inaccuracy may be material. In light of the
significant uncertainties in these forward-looking statements, you
should not regard these statements as a representation or warranty
by us or any other person that Markforged will achieve its
objectives and plans in any specified time frame, or at all. The
forward-looking statements in this press release represent
Markforged’s views as of the date of this press release. Markforged
anticipates that subsequent events and developments will cause its
views to change. However, while Markforged may elect to update
these forward-looking statements at some point in the future,
Markforged has no current intention of doing so except to the
extent required by applicable law. You should, therefore, not rely
on these forward-looking statements as representing Markforged’s
views as of any date subsequent to the date of this press
release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220405005451/en/
Media Paulina Bucko, Head of Communications
press@markforged.com
Investors Austin Bogling, Director of Investor Relations
investors@markforged.com
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