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Two of the largest publicly traded companies in 3D printing are coming together.
What’s happening:
- Additive manufacturing company Nano Dimension (NASDAQ:NNDM) has announced they will acquire Desktop Metal (NASDAQ:DM) in all cash transaction
By the numbers:
- Nano Dimension will acquire Desktop Metal for approximately $183M USD
- The combined entity is expected to have approximately $665M USD in cash following the acquisition
Why it matters:
- Nano Dimension and Desktop Metal are amongst some of the most innovative publicly traded companies pursuing additive manufacturing and 3D printing, which has become an area of focus for innovation in both aerospace and defense tech
Going deeper:
- Nano Dimension and Desktop Metal are aiming to become the leading publicly traded company for additive manufacturing technology and hardware, with each company already have existing notable partnerships as well as significant ongoing research and development projects aiming to lower the costs associated with 3D printing at scale
The fine print:
- Desktop Metal was backed by some of the largest venture capital funds in Silicon Valley including Google Ventures and previously went public in a highly anticipated SPAC transaction, however shares of Desktop Metals are now down more than -98% from their all time highs
- Since inception, Desktop Metal raised more than $438M USD in venture capital funding which is significantly more than they are currently being acquired for
