In a joint statement, Nano Dimension Ltd. and Desktop Metal, Inc. announced today that Nano Dimension has agreed to purchase the other company for between $183 million and $135 million, depending on possible adjustments.
The latest consolidation in the additive market follows Nano Dimension’s $1.1 billion bid to purchase Stratasys in December 2023 after Stratasys’ own attempt to merge with Desktop Metal fell through.
There’s no word yet on how the newly combined company will be led, but the joint statement noted it would have a 2023 combined revenue of $246 million. The consolidation of additive manufacturers has been driven in part by a quest for profitability. According to their statement, the combination of the companies “is anticipated to generate in excess of $30 million in run-rate synergies over the next few years, in addition to previously announced cost savings from each of the two organizations.”
In the July 3 statement, Yoav Stern, CEO of Nano Dimensions, said its combination with Desktop Metal would increase Nano’s capabilities for mass manufacturing.
“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,” Stern said.
Ric Fulop, co-founder and CEO of Desktop Metal, said the combination of the two companies would let them better serve important markets.
“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,” Fulop said.
Elsewhere in their joint statement, the two companies cited Nano’s experience in 3D-printed electronics, high performance polymer, ceramic, and metal printing, while Desktop Metal adds platforms for industrial-volume applications of metal and polymer.
Previous Nano Dimension-Desktop Metal-Stratasys Coverage
- Nano Dimension Bids $1.1 Billion for Stratasys: $100 Million less than in March
- Desktop Metal CEO: What's Next After the Deal to Merge with Stratasys Fails
- Stratasys Bid to Buy Desktop Metal Fails, Company Seeking ‘Strategic Alternatives’
- Stratasys CEO Zeif: Additive Technology's Advances and Long-Term Challenges
- Stratasys Again Rejects 3D Systems, Urges Shareholders to Support Desktop Metal Purchase
- Stratasys CEO Zeif: How Additive Can Scale for Manufacturing
- Stratasys CEO Zeif: Why Now for Additive Manufacturing Mergers
- Stratasys Will "Engage in Discussions" on Acquisition by 3D Systems
- Stratasys Board Again Turns Away 3D, Nano Offers
- Stratasys Stiff-Arms 3D Systems' Bid
- 3D Systems Offers $1.2 Billion for Stratasys
- Understanding the Merger of Stratasys and Desktop Metal
- Stratasys to Buy Desktop Metal for $1.8 Billion
