Desktop Metal is acquiring industrial 3D printing company ExOne
“We are thrilled to bring ExOne into the DM family to develop the leading additive production portfolio for mass production,” Desktop Metal CEO Ric Fulop stated in a release. Desktop Metal has actually been actively pursuing acquisitions to grow out its 3D printing portfolio because it revealed plans to go public via SPAC last August.”We are excited to join forces with Desktop Metal to provide a more sustainable future through our shared vision of additive manufacturing at high production volumes,” Hartner said of today’s statement.
Today’s deal, which is valued at $575 million, finds Desktop Metal acquiring all of ExOne’s common stock.
As part of its profits call this week, Desktop Metal announced strategies to acquire ExOne. The Pennsylvania-based firm develops a range of different commercial 3D printers for markets like aerospace, automotive, medical and defense. More just recently, we blogged about the company’s portable 3D printing factories, which are efficiently mobile additive production stations built within shipping containers.
“Over the last two years, we’ve actually concentrated on supplying our innovation into government-type applications: DoD, NASA, DoE,” ExOne’s CEO John Hartner informed TechCrunch when that news broke. “Sometimes people discuss interfering with the supply chain and getting decentralized manufacturing. This is decentralized and forward-deployed, if you will. Be it an emergency, humanitarian mission or frontlines for a war fighter.”
Desktop Metal has been actively pursuing acquisitions to grow out its 3D printing portfolio since it announced plans to go public via SPAC last August. In January, it obtained EnvisionTEC for $300 million.
“We are delighted to bring ExOne into the DM household to develop the leading additive production portfolio for mass production,” Desktop Metal CEO Ric Fulop said in a release. “We think this acquisition will provide clients with more choice as we leverage our complementary innovations and go-to-market efforts to drive continued development. This deal is a huge step in providing on our vision of speeding up the adoption of additive manufacturing 2.0.”
We blogged about ExOne back in February, when the company was approved $1.6 million from the DoD, in hopes of taking the systems out into the field. Each system includes a 3D scanning station with computer system and a range of various ruggedized industrial machines, including a metal and ceramic printer, treating oven, fiber-reinforced plastic printer and a compression modeling station.
“We are thrilled to sign up with forces with Desktop Metal to deliver a more sustainable future through our shared vision of additive manufacturing at high production volumes,” Hartner stated these days’s statement. “We believe our complementary platforms will much better serve customers, speed up adoption of green innovations, and drive increased investor worth. Most significantly, our technologies will help drive crucial developments at significant production volumes that can improve the world.”