The company currently employs approximately 300 people, and will expand Proto Labs’ team to more than 2,000 employees worldwide.
Proto Labs acquired RAPID for an aggregate purchase price of $120 million ($110 million in cash and $10 million in Proto Labs stock). RAPID’s 2017 annual revenue is forecasted to be approximately $45 million.
Effective today, RAPID will start operating under the name “Rapid, a Proto Labs Company.” Eventually, it will transition to operating solely under the Proto Labs brand, Proto Labs reports.
For more info, visit Proto Labs.
Sources: Press materials received from the company

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