Nano Dimension, a provider of additively manufactured electronics (AME) and 3D printers, has entered a definitive agreement to acquire all outstanding shares of Desktop Metal, a provider of 3D printers and related products, for ~USD 183 million in an all-cash transaction.

The deal value may be reduced to USD 135 million depending on certain conditions, such as ​​transaction expenses and reductions. If the transaction extends into 2025, Nano Dimension will provide Desktop Metal with a USD 20 million secured loan facility.

The acquisition will allow Nano Dimension to expand its portfolio (including metal, electronics, casting, polymer, micro-polymer, and ceramics) for mass production of industrial applications, further expanding its market share and diversifying its customer base.

Analyst QuickTake: This update concludes almost two years of back and forth between Nano Dimension, Stratasys, and Desktop Metal; Nano Dimension’s bid to acquire the remaining stakes of Stratasys was rejected for being too low (in March 2023), while Stratasys, in turn, committed to a merge r with Desktop Metal, which also ended up falling through (in September 2023) due to lack of shareholder support. Meanwhile, Desktop Metal underwent a tumultuous period, resulting in a 20% workforce reduction as part of a USD 50 million cost-cutting strategy (January 2024) and filing for a USD 250 million mixed securities shelf offering (February 2024).