In a deal that’s been brewing for months—and was even contested in court—Nano Dimension (Nasdaq: NNDM) has officially closed its $179 million acquisition of Desktop Metal.The transaction, finalized on April 2, 2025, marks a new chapter in the ongoing consolidation of the 3D printing industry and reshapes the competitive landscape.Each Desktop Metal share was bought for $5.295 in cash, and as of this morning, Desktop Metal is no longer trading on the New York Stock Exchange (NYSE).
The company is now a wholly owned subsidiary of Nano Dimension.Desktop Metal goes public.Image courtesy of Desktop Metal.
This move comes after a legal battle that began last December when Desktop Metal filed a lawsuit against Nano Dimension, alleging that Nano failed to do enough to get the required regulatory approvals for the merger, threatening the completion of the merger.The trial ended in a win for Desktop Metal, giving it enough leverage to negotiate the merger’s completion. “The completion of the Desktop Metal acquisition represents a significant opportunity,” said Ofir Baharav, Chairman of Nano Dimension’s board.“Our new leadership group is squarely focused on implementing necessary measures to achieve a sustainable business model that will allow us to successfully create value for all stakeholders.
We will make clear-eyed, objective assessments of our combined operations, identifying immediate cost synergies and strategically realigning resources toward our highest-potential product lines.” As part of the transition, Desktop Metal’s entire board of directors stepped down, including founder and CEO Ric Fulop, who resigned from the board but remains in his executive role for now.According to a recent U.S.Securities and Exchange Commission (SEC) filing, in their place, Julien Lederman and Ofir Baharav (both from Nano Dimension) joined as the new directors.
The Money Behind the Deal The acquisition values Desktop Metal at $179.3 million, which is much lower than the multi-billion-dollar valuation it reached at its peak just a few years ago.In early 2021, shortly after going public through a SPAC (special purpose acquisition company) deal, Desktop Metal’s market cap was near $5 billion—a sign of how much things have changed in the public 3D printing arena.Since the deal was structured as an all-cash transaction and not a stock swap, Desktop Metal shareholders are walking away with $5.295 per share in cash, with no equity in Nano Dimension and no stake in the combined company.
With the stock set to be officially removed from the NYSE on April 14, 2025, and each share now only representing the right to receive that cash, this confirms it was a full cash-out acquisition.It’s a clean exit, but one that means shareholders won’t benefit if the merger proves successful.It also marks the end of Desktop Metal’s run as a publicly traded company.
The combined company is expected to generate more than $200 million in revenue for 2024, based on preliminary and unaudited figures.In the current 3D printing economy, where many companies are shrinking, this merger creates one of the stronger players in the field.Nano Dimension at Formnext 2024.
Image courtesy of Nano Dimension.Nano Dimension says this acquisition is just one piece of a bigger puzzle.Since a new leadership team took over in December 2024, they have been working on cutting costs and focusing on profit.
That strategy now extends to Desktop Metal.Although the deal just closed, Nano Dimension has made it clear that Desktop Metal’s operations, product lines, and staff will be reviewed and potentially restructured as part of the larger company’s financial transformation.According to Nano, the transformation plan is built around four main goals.
First, the company wants to maintain financial strength by keeping a solid cash position and avoiding risky spending.Second, it seeks to drive profitable growth by focusing only on technologies and services with a strong chance of delivering real financial returns.Third, Nano plans to boost margins by tightening operations, streamlining its supply chain, and improving internal systems.
Finally, the company wants to improve customer partnerships by delivering solutions that make Nano Dimension indispensable to its clients.What about Markforged? While the Desktop Metal deal is now done, Nano Dimension hasn’t forgotten about Markforged.In September 2024, Nano announced an agreement to acquire Markforged for $5 per share in cash.
The move was framed as part of a broader strategy to combine complementary technologies and build a stronger additive manufacturing portfolio.Although there has been little public movement since then, Nano Dimension said it would address “potential synergies with its pending merger with Markforged” in future updates.For now, the deal remains pending, and we still need to wait to learn if Nano Dimension follows through.
This is the first time we have heard from the company about the deal since last year.Nano Dimension used its Fabrica micro-3D printing technology to create a miniature medical device that accurately records neuronal activity in mice.Image courtesy of Nano Dimension.
The wave of companies that went public through SPAC deals is now undergoing a major shift.Desktop Metal was one of the biggest names in that group, and it is now part of Nano Dimension.Meanwhile, for Nano Dimension, it’s a strategic move to combine its technologies—electronics printing, micro-AM, and now metal and binder jetting—to build a stronger business and set a new tone for mergers and acquisitions in additive manufacturing.
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