ExOne is the latest addition to Dekstop Metal’s acquisitions in line with the company’s goals to accelerate additive manufacturing.
3D printing solutions developer Desktop Metal has announced that it will be acquiring industrial 3D printing systems provider The ExOne Company. The two companies shared that they have already signed a definitive agreement indicating that Desktop Metal will be purchasing all of ExOne’s common stock. The transaction is currently valued at $575 million. This consists of $192 million in cash and $383 million in shares from Desktop Metal common stock. Desktop Metal has been making a number of acquisitions since it announced plans to go public in August of last year. For example, it acquired EnvisionTEC for $300 million this January.
“We are thrilled to bring ExOne into the DM family to create the leading additive manufacturing portfolio for mass production,” said Ric Fulop, founder and CEO of Desktop Metal. “We believe this acquisition will provide customers with more choice as we leverage our complementary technologies and go-to-market efforts to drive continued growth. This transaction is a big step in delivering on our vision of accelerating the adoption of additive manufacturing 2.0.”
ExOne develops and supplies industrial 3D printers for various additive manufacturing industries such as aerospace, automotive, medical and defense. The Pennsylvania-based firm received a $1.6 million grant just this February from the U.S. Department of Defense to build a portable 3D printing factory within a shaping container. Each container unit contained a 3D scanning station that included a computer and various ruggedized industrial machines such as metal and ceramic printers, curing ovens, fiber-reinforced plastic printers, and a compression modeling station. This was intended to decentralize manufacturing and keep the supply chain agile, particularly for when parts are needed during emergency and humanitarian missions.
It was one of ExOne’s largest government contracts at the time.
The company is most well-known for its innovative binder jet 3D printing technology which has been in development since 1995. ExOne also offers specialized 3D printing services, including on-demand production of mission-critical parts, along with engineering and design consulting.
“We are excited to join forces with Desktop Metal to deliver a more sustainable future through our shared vision of additive manufacturing at high production volumes,” said John Hartner, CEO of ExOne. “We believe our complementary platforms will better serve customers, accelerate adoption of green technologies, and drive increased shareholder value. Most importantly, our technologies will help drive important innovations at meaningful production volumes that can improve the world.”
For more information, visit the investor relations page on Desktop Metal and ExOne.
