Xometry, which connects traditional machine shops and 3D parts printing in a global online marketplace, has acquired Thomas, a product sourcing, marketing and ecommerce platform built around its Thomasnet.com brand for $300 million.
“Xometry and Thomas share a common mission of championing the digital transformation of the manufacturing industry, one of the largest sectors of the global economy and the foundation for innovation everywhere,” said Randy Altschuler, CEO of Xometry, in a press release. “Thomas brings strong brand equity, trusted and extensive relationships, proprietary data and advanced full-funnel marketing services—assets that perfectly complement our digital marketplace. Together, we will introduce new services, cross-sell to our combined base and expand our suite of products, particularly in fintech and digital marketing.”
“Thomas has a long and proud history of bringing active buyers and sellers together on our Thomasnet.com platform and providing the data and marketing services that inform decision-making,” said Tony Uphoff, president and chief executive officer of Thomas. “In joining forces with Xometry, we’re uniting our products with the power of the Xometry marketplace so we can do even more for industry together.”
Xometry officials said the acquisition of Thomas “is expected to rapidly expand Xometry’s buyer and seller base, significantly enhancing Xometry’s global digital marketplace for manufacturers. Xometry also expects to leverage Thomas’ marketing and data services to deliver an unmatched suite of end-to-end services for sellers with additional fintech and digital marketing products.”
The Thomasnet.com platform has more than 1.3 million registered users and more than 500,000 commercial and industrial sellers.
Xometry officials said they expect the acquisition to have an immediate impact on their company’s financial outlook. “We expect the deal to accelerate our path to profitability and expect full year profitability in 2023,” officials said in a press release.
This article appeared in Machine Design.
