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The sales-purchase transaction is expected to be completed by the end of September, after which the activities of GrabCAD will move to Stratasys Global Products and Technology Group. GrabCAD's co-founder and CEO Hardi Meybaum continues managing the company within the group. GrabCAD has in simplified terms been called a social network for engineers.

"GrabCAD was created with the idea of bringing together engineers throughout the world, and help them to work together to bring better products to market faster," said the CEO of GrabCAD Hardi Meybaum. "By joining forces Stratasys, the market leader in 3D printing, it is possible for us to expand the scope of one of the world's most exciting and innovative technologies in the field of design," added Meybaum.

Created in 2010, GrabCAD is a pioneer in developing the CAD software meant for engineers and has made available to engineers across the world cloud-based 3D CAD cooperation solutions and tools. GrabCAD has more than 1.5 million users who have access to a public collection of CAD files and the opportunity to be in contact with engineers from all over the world.