Markforged Expands Software Offering with Acquisition of Teton Simulation Software
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
WATERTOWN, Mass. – April 5, 2022 – 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.
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
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.
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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.
Paulina Bucko, Head of Communications
Austin Bogling, Director of Investor Relations
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