Additive manufacturing developer Nano Dimension Ltd. is buying Desktop Metal Inc. in an all-cash transaction valued at approximately $183 million. The proposed transaction has been unanimously approved by directors of both companies, is expected to close in Q4 2024.
The organization and management of the new business were not detailed.
According to a joint announcement, the combined company will be the first AM provider to cover “the full gamut of customer needs from prototyping to production across a range of critical and high-performance medical and electronics applications in industrial and high-performance materials.”
Nano Dimension is a designer/manufacturer of additive manufacturing systems and machinery, and supplier of consumable materials, with particular capabilities in 3D-printed electronics.
Desktop Metal develops additive technologies for industrial-scale applications, focusing on metal and polymer processes and materials, plus software and sintering capabilities. Desktop Metal also owns ExOne, a specialty developer of systems for binder-jet 3D printing of sand molds and cores.
“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,” stated Yoav Stern, Nano Dimension CEO and director.
In detail, Nano Dimension will acquire all outstanding shares of Desktop Metal for $5.50 per share, a price that may be adjusted according to transaction expenses, or a delayed transaction schedule.
The proposed transaction marks a new turn in a long consolidation process in the additive manufacturing sector, involving both Nano Dimension and Desktop Metal, among other developers.
“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,” stated Desktop Metal CEO Ric Fulop.