In a significant move within the additive manufacturing industry, Nano Dimension Ltd. and Desktop Metal Inc. have announced a strategic agreement. Israeli 3D printing company Nano Dimension is set to acquire Desktop Metal in an all-cash transaction, valued at $5.50 per share, totaling approximately $183 million.
The merger aims to combine the strengths of both companies, with Nano Dimension’s 3D printed electronics and high-performance materials and Desktop Metal’s industrial scale AM technologies across a range of materials.
READ MORE: From Prototype to Product: The Rise of 3D Metal Printing
Financially, the combined entity reports 2023 revenue of $246 million with 28% coming from recurring sources. The transaction is expected to close by Q4 2024, pending customary approvals.
Just last fall, Stratasys, a company that specializes in 3D printer technologies, failed to persuade investors that its proposed merger with Desktop Metal would lead to future profitability. Shareholders representing 78.6% of Stratasys shares voted against the $1.8 billion deal, which prompted the company’s board to explore alternatives.
Financial advisory support for Nano Dimension and Desktop Metal comes from Greenhill & Co. LLC and Stifel, respectively, as the companies move forward. As the two companies forge ahead with their joint vision, Machine Design will continue to report on the ever-evolving nature of the additive manufacturing sector.
READ MORE: Nano Dimension to buy Desktop Metal for as little as $135 million
