Announcement comes hot on the heels of consolidation rumors at RAPID + TCT 2024.
Announcement comes hot on the heels of consolidation rumors at RAPID + TCT 2024.
‘Consolidation’ seemed to be the watchword from Day One at this year’s RAPID + TCT event in Los Angeles. The first executive keynote panel saw the leaders of 3D Systems, Stratasys and Nano Dimension sharing the stage after a tumultuous year of proposed mergers and acquisitions between the three companies. And yet, despite the rumors and speculations circling at the show, it’s only after the event has ended that we get one of the biggest announcements from the additive industry this year.
Today, Nano Dimension and Desktop Metal announced a definitive agreement under which the former will acquire the latter in an all-cash transaction. “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,” said Yoav Stern, Nano Dimension’s CEO and member of the board of directors in a press release.
“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. I look forward to working with Ric Fulop and his team to drive value for all our stakeholders, including creating opportunities for our employees as part of a larger, more diversified global innovative company, driving customer support and generating long-term growing value for shareholders as we focus on profitable growth.”
Ric Fulop, Desktop Metal’s co-founder and CEO, added, “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 new combined company will aim to cross-sell to its existing customers as well as targeting new customers with complementary offerings for the automotive, aerospace and defense, and medical industries. The transaction, which was unanimously approved by the Boards of Directors of both companies, is expected to close in the fourth quarter of 2024.
