Nano Dimension Ltd, a developer and provider of additively manufactured electronics (AME) technology that is based in Massachusetts (USA), and Markforged Holding Corp, which offers metal and continuous carbon fibre 3-D printers, recently announced they have ‘entered into a definitive agreement pursuant to which’ Nano Dimension will acquire all outstanding shares of Markforged in an all-cash transaction for $5 per share. Markforged’s 2023 revenue was $93.8 million with a 47.4% gross margin and 48.6% non-GAAP gross margin.
Reports says that Nano Dimension appears poised to lead the industry with its 3 July 2024 agreement to acquire Desktop Metal Inc, and the Markforged acquisition is expected to further expand Nano Dimension’s leadership in AM. The combined Nano Dimension-Desktop Metal company would have a revenue based on fiscal year 2023 of $246 million; and with this latest announcement, the combined company — Nano Dimension, Desktop Metal, and now Markforged — would have a combined revenue based on fiscal year 2023 of $340 million.
Yoav Stern, Nano Dimension’s CEO, said: “In combining with Markforged, Nano Dimension is taking bold action in its journey towards becoming a digital manufacturing leader and being a foundational pillar of Industry 4.0. Markforged is an exceptional company with innovative AM materials and solutions for true production. Its prowess is validated by its more than 15,000 installed and connected systems in the field with many leading names across key industry verticals. I am excited to work with Shai Terem and his team, who have done an exceptional job developing its cutting-edge solutions.
“This is all the more substantial when we think about the anticipated closing of our deal with Desktop Metal. We believe the combination of Nano Dimension, Desktop Metal, and Markforged further strengthens our unique opportunity in creating value for our shareholders, customers, and employees as we work to deliver profitable growth, exceptional services, and notable career development opportunities.”
Shai Terem, Markforged’s CEO and president, added: “We are excited to bring together our pioneering, complementary product portfolios that will further enhance our ability to serve our customers in high-growth industries with a more complete offering of highly innovative solutions used on the factory floor. Not only is our product offering unique, but together we will have the scale and balance sheet strength to become an even more trusted partner to our customers.”