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.
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.