Desktop Metal has announced that it is acquiring polymer specialist, EnvisionTEC, in a 300 million deal, consisting of a combination of cash and newly issued Desktop Metal stock.

Barely a month after being officially traded on the New York Stock Exchange, the Boston-based 3D printing equipment manufacturer is making another major move entering 2021 with the move.

EnvisionTEC is a true pioneer and responsible for many of the leading technologies widely used today to produce end-use photopolymer parts through additive manufacturing.

Together, Desktop Metal and EnvisionTEC have an opportunity to shape the future of Additive Manufacturing 2.0 and transform how parts are made around the world.Ric Fulop, Founder and Chief Executive Officer of Desktop Metal

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.Al Siblani, EnvisionTEC founder

Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, Desktop Metal has been continuously addressing the unmet challenges of speed, cost, and quality with an expansive portfolio.

EnvisionTEC, founded in 2002, has been serving a variety of medical, professional, and industrial markets with its pioneering commercial DLP printing technology and premium 3D printers.

The transaction which is expected to close in the first quarter of 2021, will see EnvisionTEC operating as a wholly-owned subsidiary of Desktop Metal, with EnvisionTEC founder Al Siblani continuing in his CEO position.

Download Conference Call Deck

Like what you read? Share the love!

Related posts: