Xometry, a digital, on-demand manufacturing marketplace based in Gaithersburg, announced Thursday its acquisition of New York-based industrial sourcing and marketing company Thomas. The deal is valued at $300 million in cash and stock.
With 120 years of experience, Thomas is a platform for industrial sourcing, supplier selection and digital marketing. The company connects 1.3 million registered industrial professionals with more than 500,000 businesses. With Thomas, procurement professionals can look up detailed information on a huge database of suppliers and suppliers can use the company’s digital marketing services to attract potential buyers.
“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,” Tony Uphoff, President and CEO of Thomas, said in a statement. “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 is a leading on-demand manufacturing marketplace that uses AI to quickly and efficiently deliver quotes from 5,000 suppliers. Buyers can simply upload a 3D model of a prototype and within seconds know exactly what their parts will cost for any number of units.
The acquisition of Thomas is expected to expand Xometry’s customer base as well as its digital marketing capabilities.
“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,” Xometry CEO Randy Altschuler said in a statement. “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.”
2021 has been a year of growth for Xometry. The company went public on the Nasdaq over the summer, ranked number 187 in Deloitte’s Fast 500 list, and during Q3 of 2021 had 26,187 active buyers, including 30 percent of the Fortune 500 list, according to a company statement.