Gaithersburg on-demand manufacturing firm Xometry has acquired Germany’s Shift, the largest on-demand manufacturing marketplace in Europe, according to an announcement Tuesday.
The deal, the terms of which were not disclosed, expands Xometry into 12 new countries and a total worldwide network of more than 4,000 participating manufacturers. Shift will operate as Xometry Europe and will continue to be headquartered in Munich.
“Global expansion is a key step for us,” said Xometry CEO Randy Altschuler. “Many of our customers, like BMW and Bosch, have a global presence and we can serve more of their needs with a global network. Our AI-driven algorithms and intelligent sourcing platform give us a competitive advantage as we expand across new geographies and manufacturing technologies.”
Xometry connects its customers with manufacturing solutions through proprietary AI algorithms, it says. Engineers submit design files online and instantly receive quotes on a variety of custom manufactured…Read the full story from the Washington Business Journal.