Nano Dimension has introduced the completion of its acquisition of Markforged in a deal value $116 million (or $5.00 per share).
The information comes simply weeks after the additive manufacturing (AM) firm was ordered to finish its acquisition of Desktop Metallic, concluding a prolific M&A saga that included important management shuffles and two lawsuits, with a last transaction valued at $179.3 million.
With Markforged, Nano Dimension says it goals to broaden its attain with its metallic and composite applied sciences, of which there are over 15,000 machines put in globally, alongside its AI and cloud-based manufacturing capabilities. It additionally brings on board Markforged Chief Monetary Officer Assaf Zipori as its new Chief Monetary Officer.
Mr. Ofir Baharav, Chief Govt Officer of Nano Dimension, commented: “Nano Dimension stays firmly dedicated to its imaginative and prescient: constructing a preeminent digital manufacturing chief. Finishing the Markforged acquisition is a serious milestone in fulfilling that imaginative and prescient. With confirmed metallic and composite options that tightly combine {hardware}, cloud-based AI-enhanced software program, and supplies science, Markforged has performed a important function in manufacturing on manufacturing facility flooring worldwide. Its set up base of over 15,000 programs throughout main industrial clients can function a robust platform for increasing Nano Dimension’s attain. Whereas Markforged options have achieved practically 50% gross margin, we’ll proceed to take clear, decisive steps to drive profitability and strengthen our capital place within the quarters forward.”
In March, Nano Dimension launched a complete strategic evaluation, with a selected give attention to its core enterprise and up to date acquisitions. Final week the corporate stated it was exploring ‘all strategic options’ to deal with Desktop Metallic’s liabilities and liquidity wants with studies suggesting the evaluate might result in the divestiture of the corporate, simply weeks after finishing its acquisition. Based on an announcement from Nano Dimension, Desktop Metallic has appointed Robert Warshauer to its Board of Administrators and engaged Piper Sandler & Co. and FTI Consulting, Inc. as monetary advisers and stated ‘No assurances will be given as to the result or timing of the strategic evaluate course of.’
