Shapeways (NYSE: SHPW) has launched Otto™ Software-as-a-Service (SaaS), providing traditional manufacturers with free access to advanced 3D printing workflows. This platform streamlines production processes, allowing manufacturers to create complex parts without significant capital expenses. Shapeways' survey revealed that 88% of 3D printing users face software challenges, indicating strong demand for integrated solutions like Otto. The service enables rapid response to market demands across various industries, including aerospace and healthcare, ensuring quality and efficiency in production.
Shapeways has successfully completed its merger with Galileo Acquisition Corp, creating Shapeways Holdings, Inc. The new company will commence trading on the NYSE with the ticker symbol 'SHPW' starting September 30, 2021. The business combination was overwhelmingly approved by Galileo's shareholders, with over 99% voting in favor. As part of the merger, Shapeways will receive $103 million in gross proceeds, primarily to enhance its additive manufacturing capabilities and expand its SaaS offerings, positioning itself strategically in the growing digital manufacturing market.