DERWOOD, MD—Xometry, which operates an on-demand industrial parts marketplace, has acquired Thomas, a product sourcing and ecommerce platform, for $300 million.
Xometry officials said the acquisition is expected to rapidly expand its buyer and seller base, and significantly enhance its global digital marketplace for manufacturers. Xometry also expects to leverage Thomas’ marketing and data services to deliver excellent end-to-end services for sellers with additional fintech and digital marketing products.
Thomas owns the Thomasnet.com platform, which has more than 1.3 million registered users and more than 500,000 commercial and industrial sellers.
Xometry officials said they expect the acquisition to have an immediate impact on their company’s financial outlook. “We expect the deal to accelerate our path to profitability and expect full year profitability in 2023,” officials said in a press release.
“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 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.”
“Thomas has a long history of bringing buyers and sellers together on Thomasnet.com, and providing the data and marketing services that inform decision-making,” says Tony Uphoff, president and chief executive officer of Thomas. “In joining forces with Xometry, we’re uniting our products so we can do even more for industry together.”