Xometry Buys Thomas in $300 Million Deal
On-demand manufacturing provider Xometry today announced the acquisition of Thomas, 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 is expected to rapidly expand Xometry’s buyer and seller base, significantly enhancing its global digital marketplace for manufacturers. Xometry said that it also expects to leverage Thomas’ marketing and data services to deliver a suite of end-to-end services for sellers with additional financial technology (fintech) and digital 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,” said Randy Altschuler, CEO of Xometry. “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 CED 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 connects enterprise buyers across industries such as aerospace, consumer products, defense, industrial, automotive, medical, energy, robotics, green-tech, and more with sellers of custom-manufactured parts worldwide. At the end of Q3 2021, Xometry said that it had 26,187 active buyers, including nearly 30% of the Fortune 500 companies. 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.
Thomas brings deep relationships with highly qualified enterprise buyers and engineers. The industry-leading Thomasnet.com platform boasts more than 1.3 million registered users (including 93% of Fortune 1000 companies) and more than 500,000 commercial and industrial sellers, including 45,000 diversity certified sellers. Every year, more than 20 million sourcing sessions are initiated on Thomasnet.com, generating extensive first-party buyer intent data across multiple sectors.