German speciality chemicals company, Evonik has acquired Structured Polymers Inc., a US-based technology startup for 3D printing materials headquartered in Austin, Texas. A corresponding agreement and plan of merger was executed and the transaction has been closed recently. The acquisition will provide Evonik access to a new patented technology that will allow the company to expand its portfolio of specialty polymer powders in the additive manufacturing market. Head of Strategy and Growth Business for Evonik Resource Efficiency GmbH said that the acquisition will complement their existing activities with high performance polymers for additive manufacturing. They will be able to expand the portfolio of customized, ready-to-use polymer materials for the highly attractive, rapidly growing 3D printing market.
Evonik had laid the foundations for an acquisition of the technology start-up in the fall of 2017 through a venture capital investment. Structured Polymers will be entirely integrated into Evonik’s North American organization, while its company headquarters will remain in Austin, Texas.