Desktop Metal announced last month its plans to acquire EnvisionTec is a $300 Million deal. The recently publicly-traded company confirms today the completion of this acquisition.
The transaction is valued at $300 million, consisting of a combination of cash and Desktop Metal stock and subject to customary adjustment.
EnvisionTEC will operate as a wholly owned subsidiary of Desktop Metal and continue to be led by founder Al Siblani, who will serve as Chief Executive Officer of the EnvisionTEC business.
“With EnvisionTEC now a part of Desktop Metal, we are well positioned to offer customers a complete platform across polymers and metals, focused on Additive Manufacturing 2.0 solutions for volume production of end-use parts,” said Ric Fulop, CEO and co-founder of Desktop Metal. “Together, we have more than 200 distribution partners around the world that extend our reach into applications across fast-growing markets for additive manufacturing, such as dental, medical, and jewelry, in addition to doubling down on the broader industrial market. As we join forces, I’m more confident than ever we can accelerate the adoption of AM 2.0 and help customers transform how parts are made around the world.”
With this acquisition Desktop Metal doubles its global distribution network, adding vertically focused partners in markets such as medical, dental, and jewelry, and increasing its geographic sales capabilities to 68 countries around the world.
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