Nano Dimension completes Desktop Metal acquisition
Nano Dimension, Waltham, Massachusetts, USA, has announced the completion of its acquisition of Desktop Metal, Burlington, Massachusetts. The transaction – valued at $179.3 million or $5.295 per share – was finalised upon the receipt of all necessary regulatory approvals and satisfaction of customary closing conditions. This follows the recent ruling in the Delaware Court of Chancery that the merger must be followed through with; the suit was filed in December 2024.
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“The completion of the Desktop Metal acquisition represents a significant opportunity,” stated Ofir Baharav, chairman of the board of directors of Nano Dimension. “We are excited about the ability to offer leading customers more innovative technologies. Our new leadership group is squarely focused on implementing necessary measures to achieve a sustainable business model that will allow us to successfully create value for all stakeholders. We will make clear-eyed, objective assessments of our combined operations, identifying immediate cost synergies, and strategically realigning resources toward our highest-potential product lines.
“Our commitment to shareholders is straightforward: disciplined capital management, prioritisation of resources to areas that will drive meaningful returns, aggressive margin improvement through operational efficiencies, and a relentless focus on building the customer relationships that will sustain our business for the long term.”
The combined company
The combined company is expected to have annual revenue for the year ended December 31, 2024, of over $200 million, based on preliminary and unaudited full year 2024 results.
The expanded enterprise will have global operations designing and delivering a complementary portfolio of advanced manufacturing solutions, including capital equipment, materials, and software, for design-to-manufacturing of sophisticated electronics, mechanical, and medical applications.
The expanded diverse customer base will include Fortune 500 companies and industry leaders across aerospace & defence, automotive, consumer, electronics, industrial automation, medical technology, along with research & development, academic, and government organisations.
New leadership to execute a strategic financial transformation
This acquisition was completed under the stewardship of a new board of directors and management team from when the merger agreement was signed in July 2024. This refreshed group will concentrate on addressing the realities of a combined company with a focus on establishing a sustainable business model.
The management team of Nano Dimension has stated its commitment to generating substantial shareholder returns, attracting top industry talent, and serving as a trusted innovation partner for global customers.
Since Nano Dimension’s new leadership assumed responsibility in December 2024 following the departure of its board in two sweeps and termination of erstwhile CEO Yoav Stern, the company has been undergoing a strategic review and has undertaken changes in its operating model to reduce expenses of the core business. Building on these updates, the leadership team intends to expand these optimisation initiatives across the combined organisation with increased scope and urgency.
The company has stated that it intends to provide additional details regarding integration plans and the financial outlook for the combined company following a comprehensive strategic review. It will also address potential synergies with its pending merger with Markforged in the future.
