Xometry acquires industrial sourcing marketplace Thomas
December 13, 2021
Xometry, Inc, Gaithersburg, Maryland, USA, has acquired industrial sourcing platform ThomasNet in a transaction valued at $300 million. The move is expected to rapidly expand Xometry’s buyer and seller base, significantly enhancing its global digital marketplace for manufacturers. The company also hopes to leverage Thomas’ marketing and data services to deliver a suite of end-to-end services for sellers with additional fintech (financial technology) and digital marketing products.
Xometry offers a range of solutions to help customers develop effective prototypes and scale up to production parts. Its marketplace enables buyers to efficiently source on-demand components and assemblies from a network of over 5,000 vetted manufacturers. Technologies include CNC machining, sheet metal fabrication, injection moulding and Additive Manufacturing.
“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,” stated 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.”
The company’s Thomasnet.com platform hosts more than 1.3 million registered users (including a reported 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 said to be initiated on Thomasnet.com, generating extensive first-party buyer intent data across multiple sectors.
“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 Chief Executive Officer 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.”