Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of 3-D printer maker Stratasys (Nasdaq: SSYS) surged 23% today on news that it will merge with privately held Israeli peer Objet, creating a combined entity valued at about $1.4 billion.

So what: Stratasys is doing the deal to expand its geographic reach, increase scale, and offer a wider range of products. 3-D printing is an exciting high-growth area, but it's still relatively costly, so Wall Street is loving management's aggressive move to be one of the bigger cost-leading players in the space.

Now what: The deal is expected to close in the third quarter of 2012 and be accretive to cash earnings within just 12 months. "I am confident that we will capitalize on the many opportunities this combination creates for our shareholders," said Stratasys Chairman and CEO Scott Crump. "We look forward to completing this transaction and to building significant long-term value for our shareholders." Jumping on a big rally isn't exactly ideal, but with the stock still off about 20% from its 52-week highs, there might be some room to buy into that bullishness.

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Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Motley Fool newsletter services have recommended buying shares of Stratasys. Try any of our Foolish newsletter services free for 30 days.

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