Operating under a court order, Nano Dimension Ltd. completed its takeover of Desktop Metal in a deal estimated at $179.3 million ($5.295 per share), roughly in line with the merger agreement announced last July. Nano Dimension’s parallel acquisition of Markforged Holdings remains uncompleted.
“We are excited about the ability to offer leading customers more innovative technologies,” according to chairman Ofir Baharav. “We will make clear-eyed, objective assessments of our combined operations, identifying immediate cost synergies, and strategically realigning resources toward our highest-potential product lines.”
The combination became contentious in December, when Desktop Metal sued to force Nano Dimension to finalize the agreement on schedule. That motion prompted the departure of Nano Dimension CEO Yoav Stern in January, prior to the hearing in a Delaware court that resulted in the order to complete the deal by March 31. Julien Lederman was appointed interim CEO in January, but his future in that role was not announced.
Nano Dimension forecast the new organization will have annual revenue over $200 million, with operations designing and delivering additive manufacturing technologies, including capital equipment, materials, and software, for a range of markets – including aerospace, automotive, defense, electronics, medical technologies, industrial automation, and consumer products.
“This acquisition was completed under the stewardship of a new board of directors and management team from when the merger agreement was signed in July 2024,” Nano Dimension made clear in its statement, adding that the “refreshed group is concentrated on addressing the realities of a combined company with an unwavering focus on establishing a sustainable business model.”
The company did not directly address its organizational plan for Desktop Metal, and its subsidiary ExOne Co., nor the management of that unit. That information is expected once the Markforged combination is completed, and no timeline was provided for that step.