Nano Dimension Acquires Desktop Metal

Nano Dimension announced the plan to acquire Desktop Metal for around $183 million all in cash, while an adjustment could trim the price down to $135 million. This implies a 27.3% premium from July 2, 2024's close price and more than the last VWAP for thirty trading days by about 20.5%.
The new holding will have strong financials with revenues in 2023 expected at $246 million and a recurring revenue percentage of 28%. This transaction is targeted to consolidate its leadership in additive manufacturing through the integration of complementary product offerings in metal, electronics, casting, polymer, and micro-polymer applications, together with ceramics.

The competency provided by Nano Dimension in the domain of 3D-printed electronics and high-performance materials is to be complemented by the expertise of Desktop Metal in the area of industrial-scale metal and polymer applications, thereby realizing the vision of an end-to-end AM solution.

Strategically, this merger will further accelerate the industry's shift toward mass production—from prototyping all the way to mainstream tooling and end-use part production—deeper market penetration in key industries, including automotive, aerospace/defense, industrial, medical, R&D/academia, and blue-chip customers such as Amazon, Caterpillar, NASA, Raytheon, Tesla, and Toyota.

Many synergies will be financially combined, with over $30 million in run-rate savings to be realized. The transaction is not subject to any financing conditions since Nano Dimension plans to pay cash from its projected strong cash position of approximately $665 million to $680 million post transaction.

The acquisition is conditioned upon obtaining the necessary regulatory approvals and is anticipated to close in the fourth quarter of 2024.

Read the whole press release here: Nano Dimension Press Release

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