Nano Dimension is to acquire Desktop Metal, creating a board portfolio of 3D printing technologies and software that it hopes will rival industry heavyweights Stratasys and 3D Systems.
Having signed a definitive agreement, Nano Dimension will acquire all outstanding shares of Desktop Metal in an all-cash transaction for $5.50 per share, subject to possible downward adjustments to $4.07 per share – putting the final value between $183 million and $135 million in total.
Nano Dimension CEO Yoav Stern, said, “Our combination with Desktop Metal is another step in Nano Dimension’s evolution to become the leader in digital manufacturing, with capabilities in mass manufacturing for critical industrial applications.
“We’re excited to join forces with an excellent group of technology leaders, all of whom share our vision for transforming manufacturing to Digital Industry 4.0.”
Nano Dimension has its roots in micro 3D printing, yet under Stern’s stewardship has been keen to expand. In 2022 it acquired Admatec/Formatec developer of 3D printing systems for ceramic and metal end-user parts, and in 2023 added multi-material AM optimisation software Additive Flow to its stable.
2023 also saw it make bold moves to acquire Stratasys, scuppering its move to acquire Desktop Metal for a reported (and much more sizeable) $1.8 billion, prompting a bidding war that 3D Systems then entered.
Desktop Metal has a much wider stretch of technologies, its metals additive manufacturing footprint being key, but also 3D printed sand casting, ceramics and the intriguing Free Foam, not to mention its wood 3D printer Forust. Additionally, it also has sheet metal forming technology Figur G15, and has built up its own list of acquisitions, namely EnvisionTec and ExOne.
Ric Fulop, Desktop Metal’s co-founder and CEO, said, “We’re excited to bring together our pioneering, complementary product portfolios that will further enhance our ability to serve our customers in high-growth industries with a more complete offering of digital manufacturing technologies for metal, electronics, casting, polymer, micro-polymer and ceramics applications.
“We look forward to working with Nano Dimension to join two great companies and their devoted teams that can serve our stakeholders to the maximum extent possible.”
According to Nano Dimension, the union of the two companies will create ‘a long-term business’ that will ‘drive the transition of 3D printing from prototyping to mainstream tooling and end-use part production’.
