SHOCKING TAKEOVER ROCKS 3D PRINTING INDUSTRY: NANO DIMENSION SNATCHES UP DESKTOP METAL IN $183 MILLION DEAL
In a move that has left the additive manufacturing world reeling, Nano Dimension has announced its plans to acquire Desktop Metal in a deal worth up to $183 million. The staggering sum marks a 27% premium over Desktop Metal’s closing price, and it’s clear that Nano Dimension is willing to break the bank to get its hands on its competitor.
But this isn’t the first time these two companies have clashed. Oh no, the drama between Nano Dimension and Desktop Metal has been brewing for years. After Desktop Metal underwent a devastating 12% staff cut in 2022, Nano Dimension swooped in and acquired 12% of industrial 3D printing giant Stratasys. But things took a dark turn when Desktop Metal went through another round of layoffs, and Nano Dimension made a bid to take over Stratasys – which was promptly rejected.
And then, things got really messy. Stratasys and Desktop Metal announced merger plans, only for 3D Systems to swoop in and make a bid to acquire Stratasys. The resulting game of corporate musical chairs was a spectacle to behold, with multiple acquisition offers being rejected and then revived.
But in the end, it was Nano Dimension that emerged victorious, announcing its plans to acquire Desktop Metal in a deal that has left many in the industry scratching their heads. "We’re excited to bring together our pioneering, complementary product portfolios," said Desktop Metal CEO Ric Fulop in a statement that has been met with widespread skepticism.
But Fulop’s enthusiasm is understandable. After all, he was previously adamant that Desktop Metal was not for sale, telling TCT Magazine in September that the company was "100% independent" and "not for sale." Fast forward eight months, and it seems that Fulop has had a change of heart.
The deal is set to close in Q4 of this year, and Nano Dimension plans to pay for it using cash on hand. But one thing is certain: the 3D printing industry will never be the same again.
Author: Kayitsi.com
