Fast Radius assets acquired by SyBridge Technologies in $15.9m deal
The sale comes a month on from Fast Radius filing for chapter 11 bankruptcy and nine months after its public listing. The sale to SyBridge is subject to bankruptcy court approval and is expected to close before the end of 2022. SyBridge is acquiring most of the operating assets of Fast Radius and says that it intends to make offers of employment to a majority of current Fast Radius employees.
According to SyBridge, Fast Radius will continue to operate and build its digital manufacturing and software business under its new owner and will go to market under the Fast Radius brand name. This acquisition is SyBridge’s fourteenth since the company’s inception in 2019.