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Desktop Metal to acquire EnvisionTEC

Posted on 20 Jan 2021 and read 432 times
Desktop Metal to acquire EnvisionTECDesktop Metal, Inc, a leader in mass production and turnkey additive manufacturing (AM) solutions, is set to acquire EnvisionTEC, a leading global provider of volume production photopolymer 3-D printing solutions for end-user parts, for $300 million. The transaction is expected to close in the first quarter of 2021.

Following completion, EnvisionTEC will operate as a wholly owned subsidiary of Desktop Metal and EnvisionTEC founder Al Siblani will continue to serve as CEO of the business.

Ric Fulop, founder and CEO of Desktop Metal, said: “I am thrilled to partner with Al and the EnvisionTEC team to bring significant growth to the additive market. EnvisionTEC is a true pioneer and responsible for many of the leading technologies widely used today to produce end-use photopolymer parts through AM.

“Together, Desktop Metal and EnvisionTEC have an opportunity to shape the future of AM 2.0 and transform how parts are made around the world. I look forward to welcoming EnvisionTEC to the Desktop Metal team to deliver world-class additive manufacturing solutions that help make our customers successful.”

Mr Siblani added: “I am honoured to partner with Ric and the Desktop Metal team to deliver end-use parts in both metal and polymers as we implement Ric’s vision on the future of AM 2.0.

“Bringing the two companies together will deliver a global footprint of customers that can cross-benefit from our combined technology platforms. I believe we have many opportunities to scale the business, disrupt traditional manufacturing, expand our customer base, and create value for our
shareholders.”

As the original inventor of digital light processing (DLP) 3-D printing technology, EnvisionTEC has one of the strongest intellectual property portfolios in the area-wide photopolymer 3-D printing market, counting over 140 issued and pending patents.

EnvisionTEC has over 5,000 customers across a broad range of industries, including medical devices, jewelry, automotive, aerospace, and biofabrication. In addition, the company is a leader in the dental market, more than tripling the number of Envision One dental shipments from 2019 to 2020 and with over 1,000 dental customers now using its printers for end-use parts. Key customers include Cartier, Celgene, Ford, Hasbro, Oral Arts, Stuller and Smile Direct Club.

In addition to extensive customer adoption, EnvisionTEC has a broad library of over 190 materials,
featuring photopolymer resins with material properties in-line with or exceeding those of thermoplastics and multiple FDA-listed and 510(K)-cleared resins for the manufacturing of medical devices.

The company augments its robust proprietary material development efforts with a selectively open business model, leveraging relationships with major chemical companies such as Henkel Loctite, DSM Somos, Detax, Keystone, and Arkema to sell third-party, industry-validated resins for use with its additive manufacturing platforms.