Nano Dimension has announced its intention to acquire Desktop Metal, with final financial details still in negotiation, potentially ranging from $135 million to $183 million. This represents a premium of over 27% based on Desktop Metal’s recent closing price.
The acquisition concludes a saga spanning more than two years in the additive manufacturing sector. Desktop Metal, following significant staff reductions in July 2022, saw Nano Dimension acquire a stake in Stratasys, a major player in industrial 3D printing. During this period, both Nano Dimension and Desktop Metal navigated shareholder challenges and acquisition attempts.
After an unsuccessful bid to acquire Stratasys, Desktop Metal and Stratasys themselves announced merger plans, which were subsequently abandoned in September. Throughout these developments, industry observers closely followed the unfolding drama, including statements from Desktop Metal CEO Ric Fulop reaffirming the company’s independence and commitment to growth.
Now, looking ahead to the merger with Nano Dimension, Fulop expresses optimism about combining their innovative product portfolios to better serve customers in diverse industries. The deal has received unanimous approval from both companies’ boards of directors and is expected to close in Q4 of this year, financed by Nano Dimension’s existing cash reserves.