Xometry Launches In Turkey With The Acquisition Of Tridi, Turkey’s Leading On-Demand Manufacturing Marketplace

Rhea-AI Summary

Xometry (NASDAQ: XMTR) has acquired Tridi, Turkey's leading on-demand manufacturing platform, enhancing its European presence. This acquisition allows Xometry to launch a localized marketplace at xometry.com.tr, enabling customers to receive quotes and make purchases in local currency. Tridi serves various sectors including aerospace, automotive, and consumer electronics, providing services like CNC machining and 3D printing. With this move, Xometry aims to create resilient supply chains for European customers, reflecting its commitment to becoming a key player in the industrial marketplace.

Positive

• Acquisition of Tridi enhances Xometry's footprint in Europe.
• Launch of a localized marketplace in Turkey facilitates local transactions.
• Expands service offerings with diverse manufacturing capabilities.
• Supports the creation of resilient supply chains for European businesses.

Negative

• None.

• Xometry Acquires Tridi, Turkey’s Leading Manufacturing Platform With A Vetted Regional Manufacturing Network & Corporate Buyers Across Diverse Industries, Including Aerospace And Aeronautics, Automotive, Consumer Electronics And More
• Xometry Launches Localized Marketplace In Turkey Available At xometry.com.tr
• Xometry’s Proprietary Instant Quoting Engine Delivers Instant Pricing, Accurate Lead Times And Instant Feedback, Empowering The Creation Of Resilient Supply Chains

MUNICH, Germany and ISTANBUL, Turkey, March 03, 2023 (GLOBE NEWSWIRE) -- Xometry, Inc. (NASDAQ: XMTR), the global online marketplace connecting enterprise buyers with suppliers of manufacturing services, today announced it continues to expand its significant footprint in the European region, with the acquisition of Istanbul-based Tridi and launch of a localized marketplace for Turkish customers, xometry.com.tr. With the acquisition of Tridi, Xometry adds a significant marketplace in a strategic area of the region that can support customer needs throughout Europe. 

Xometry’s localized marketplaces are powered by the company’s proprietary, AI-driven Instant Quoting Engine and allow regional customers to get quotes and purchase parts directly in local currency.

Tridi’s customers come from diverse industries, including aerospace and aeronautics, automotive, consumer electronics, plastics and more, including large international enterprise organizations. Tridi offers CNC machining, 3D printing, sheet-metal fabrication, injection molding and urethane casting services across its network of vetted regional manufacturing suppliers. Tridi will continue its operations under the Xometry Turkey brand and will be a subsidiary to Xometry Europe.

“Our continued expansion across Europe reflects our commitment to becoming the global marketplace for the large and growing industrial market,” said Randy Altschuler, CEO of Xometry. “With the acquisition of Tridi, we’re giving our customers throughout Europe more opportunities to source their manufacturing needs. Our localized marketplaces help entrepreneurs, small- and medium businesses as well as large enterprise organizations connect with manufacturers to create locally resilient supply chains so that they can bring goods to market faster and operate with greater efficiency. We are proud of our track record in Europe, where we now have 11 localized marketplaces, and we welcome Tridi into the Xometry family.”

“We’re excited about our expansion into Turkey, which is crucial to European manufacturing supply chains and has a strong internal manufacturing market.”, said Dmitry Kafidov, the Managing Director of Xometry Europe

“We’re thrilled to join Xometry,” said Çınar Topaloğlu, Tridi co-founder and CEO. “Our customers and our manufacturing partners can already benefit from Xometry’s cutting-edge marketplace technologies and global manufacturing expertise by quoting and sourcing parts via xometry.com.tr.”

Xometry’s Acquisition Of Tridi In Turkey
With the acquisition of Tridi, Xometry enables international and local customers in Turkey to use its advanced and powerful marketplace technologies. 

Tridi was founded in 2014 and has become a regional leader in on-demand manufacturing in Turkey.

The Xometry Marketplace features the company’s proprietary Instant Quoting Engine. Powered by artificial intelligence, the Xometry Instant Quoting Engine® analyzes millions of data points in real time to deliver instant pricing, accurate lead times and instant feedback, empowering entrepreneurs, small-and-medium businesses and large enterprise organizations to create locally resilient supply chains.

About Xometry
Xometry (XMTR) powers the industries of today and tomorrow by connecting the people with big ideas to the manufacturers who can bring them to life. Xometry’s digital marketplace gives manufacturers the critical resources they need to grow their business while also making it easy for engineers and purchasers at small and large enterprise companies to tap into global manufacturing capacity and create locally resilient supply chains.

Media Contact:

Matthew Hutchison
Corporate Communications for Xometry
415-583-2119
matthew.hutchison@xometry.com

FAQ

What is the significance of Xometry acquiring Tridi?

The acquisition allows Xometry to enhance its European presence and improve local manufacturing capabilities.

What services does Tridi provide after its acquisition by Xometry?

Tridi offers services such as CNC machining, 3D printing, and more across various industries.

How will Xometry's acquisition of Tridi affect its operations in Turkey?

Xometry will enable customers in Turkey to use advanced marketplace technologies for easier sourcing and quoting.

When was Xometry's acquisition of Tridi announced?

The acquisition was announced on March 3, 2023.

What is the ticker symbol for Xometry on the NASDAQ?

Xometry's ticker symbol is XMTR.