Xometry Acquires Thomas, Accelerating the Manufacturing Industry’s Digital TransformationDecember 8, 2021
Xometry, Rockville, MD, a global marketplace for on-demand manufacturing, has announced the acquisition of Thomas (Thomasnet.com), a leader in product sourcing, supplier selection and digital marketing solutions. The cash and stock transaction, valued at $300 million, is expected to close this week.
The acquisition of Thomas will rapidly expand Xometry’s buyer and seller base, enhancing its global digital marketplace. Xometry also expects to leverage Thomas’ marketing and data services to deliver end-to-end services for sellers with additional marketing products.
“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,” says Xometry CEO Randy Altschuler. “Thomas brings strong brand equity, trusted and extensive relationships, proprietary data and advanced full-funnel marketing services.”
At the end of Q3 2021, Xometry had 26,187 active buyers, including nearly 30 percent of the Fortune 500. Leveraging AI and machine-learning technology, the Xometry marketplace provides immediate pricing, delivery lead times and quality assurance in a highly fragmented environment, as well as a suite of financial products that enable manufacturers to grow their businesses.
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Thursday, December 8, 2022