Nano Dimension Ltd. (Nasdaq:
NNDM), an industry leading
Additively
Manufactured
Electronics (
AME)/
PE
(3D-Printed Electronics) provider, announced today that is
has signed a definitive agreement to acquire DeepCube Ltd.
(“DeepCube”) (https://www.deepcube.com), a world leader in Machine
Learning/Deep Learning (ML/DL) technology. Nano Dimension will pay
the shareholders of DeepCube approximately $40 million in cash and
$30 million in American Depositary Shares (ADSs) of Nano Dimension,
which are subject to stand still for various periods of up to 3
years after closing of this transaction. Such closing is expected
in the next few days, subject to the satisfaction of customary
closing conditions.
DeepCube technology applies numerous patented
breakthrough algorithms to improve data analysis and deployments of
advanced Deep Learning-based artificial intelligence (AI) systems.
The Machine Learning application includes faster and more accurate
training of deep learning models, and drastically improves
inference performance and real-time metrics. Its proprietary
framework can be deployed on top of any hardware, especially
fitting edge devices and real-time applications. DeepCube’s
AI/ML/DL solutions demonstrate 10 times speed improvements and
memory reduction, making it the only technology which allows
efficient deployment of deep leaning models on edge devices and for
real-time applications.
DeepCube’s scientists and engineers, all of whom
are expected to join Nano Dimension upon closing of this
transaction, are AI/ML/DL experts, veterans of defense forces,
homeland security and governmental Big Data agencies, as well as
academic and industrial research institutions. Its founders are Dr.
Eli David and Mr. Yaron Eitan, DeepCube’s Chief Technology Officer
and Executive Chairman, respectively (both of whom are also
directors of Nano Dimension), and its Chief Executive Officer is
Mr. Michael Zimmerman.
Mr. Yoav Stern, CEO of Nano Dimension,
commented: “Similar supply chain issues, as described recently in
the public media in relation to the semi-conductor industry, are
hovering over the printed circuit board fabrication and assembly
(PCB/PCBA) industries (approximately $65-70 billion in size for
fabrication1, and almost an order of magnitude larger for
assembly). Those segments are even more subject to margins
pressure due to the Far East low labor cost and “non-free-market”
effects on the capital intensity and pricing
mechanisms. Moreover, the PCB/PCBA industry is directly
affected by the issues of the chip-components shortage. Nano
Dimension’s vision is to establish “INDUSTRY 4.0” solutions, which
entail building an AI/ML “distributed digital fabrication
application” rather than just building machines as capital
equipment. The “AI/ML/DL Distributed Electronic Fabrication
Application” will enable a totally environmentally and ecologically
friendly digital control of the supply chain for
Hi-PEDs
(High-Performance-Electronic-Devices),
or very high performance AME-3D-PCBs.”
1 Source: IDTechEx 3D electronics: 2020-2030.
Mr. Stern added, “The core of this solution will
be DeepCube’s AI/ML/DL “brain” that is expected to
manage a neural network of edge devices, self-learning and
self-improving their efficacy and self-managing and maximizing
yield throughout the total network. Nano Dimension machines
shipping today (and especially next generation devices which are
under development) will be edge devices in the
“Digital-fabrication-neural-network” solution as
described above.”
“In conclusion”, Mr. Stern said, “think about
the personal computers of 1988 to 1998, which metamorphosed from a
stand-alone personal device to an edge device of
the “local area networks”, then the “wide area networks”, then the
internet and eventually “the cloud”. Nano Dimension’s INDUSTRY 4.0
vision means the eventuality of maintaining inventory of high-end
electronics devices (Hi-PEDS) in digital form. Print them as you
need them, where you need them, only the quantity you need, in the
best quality at competitive prices, as it is done in highest yield
and throughput possible for that point in time, specifically in
high mix/low volume scenarios.”
Dr. Eli David, Chief Technology Officer and
co-founder of DeepCube, who will become Nano Dimension’s Chief
Technology Officer of ML/DL, commented: “Over the last 18 months,
DeepCube has been negotiating with a few of the world-leading
integrated circuits and central processing unit (CPU) manufacturers
which are still hoping to adopt its unique AI technology for
dramatically improving the efficiency of deep learning deployments
in the real-world. Those opportunities will be pursued as a part of
Nano Dimension’s strategy. However, we believe we shall
reinforce our proof of concepts for those large players by joining
forces with Nano Dimension. This is the most exciting opportunity
for us, since we believe that our advanced AI capabilities combined
with Nano Dimension’s unique technological edge can realize the
“INDUSTRY 4.0” vision and revolutionize the entire AME
industry.”
Sullivan & Worcester Tel-Aviv is acting as
legal counsel to Nano Dimension in connection with the
acquisition.
Nano Dimension will host an investor call to
update on the above acquisition, on Friday, April 23, 2021, at 9:00
a.m. ET.To attend the conference call, please dial one of the
following teleconferencing numbers. Please begin by placing your
call five minutes before the conference call commences. If you are
unable to connect using the toll-free number, please try the
international dial-in number.
U.S. Dial-in
Number: 1-844-695-5517International Dial-in Number:
1-412-902-6751Israel Toll Free Dial-in Number: 1-80-9212373At: 9:00
a.m. Eastern Time, 6:00 a.m. Pacific Time, 4:00 p.m. Israel
TimeParticipants can register for the conference call by navigating
to https://dpregister.com/sreg/10155560/e77a43b040.
A replay will be available one hour after the end of the
conference call. Participants will be required to state their name
and company upon entering the call. To access the replay from
within the U.S., please dial (toll free): 1-877-344-7529 or
internationally: 1-412-317-0088 and use the replay conference ID
number: 10155560. To access the replay using an international
dial-in number, please select the following
link: https://services.choruscall.com/ccforms/replay.html.
About Nano Dimension
Nano Dimension (Nasdaq: NNDM) is a provider of
intelligent machines for the fabrication of Additively Manufactured
Electronics (AME). High fidelity active electronic and
electromechanical subassemblies are integral enablers of autonomous
intelligent drones, cars, satellites, smartphones, and in vivo
medical devices. They necessitate iterative development, IP safety,
fast time-to-market, and device performance gains, thereby
mandating AME for in-house, rapid prototyping and production. The
DragonFly LDM® system is being deployed in a wide range of
industries, including academic and research institutions, defense,
aerospace, autonomous automotive, robotics, and biotech. Its
ability to enable on-site prototyping in a matter of hours instead
of weeks; create products with better performance; reduce the size
and weight of electronic parts and devices; enable innovation; and
critically important, protect IP, is a paradigm shift in how
industry and research institutions will research, develop, and
produce High-Performance Electronic Devices (Hi-PEDs™.) Nano
Dimension machines serve cross-industry needs by depositing
proprietary consumable conductive and dielectric materials
simultaneously, while concurrently integrating in-situ capacitors,
antennas, coils, transformers, and electromechanical components, to
function at unprecedented performance. Nano Dimension bridges the
gap between PCB and semiconductor integrated circuits. A revolution
at the click of a button: From CAD to a functional high-performance
AME device in hours, solely at the cost of the consumable
materials. For more information, please visit www.nano-di.com.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the Private Securities Litigation Reform Act of 1995 and other
Federal securities laws. Words such as “expects,” “anticipates,”
“intends,” “plans,” “believes,” “seeks,” “estimates” and similar
expressions or variations of such words are intended to identify
forward-looking statements. For example, Nano Dimension is using
forward-looking statements in this press release when it discusses
expected timing of the closing of the transaction with DeepCube,
that DeepCube’s scientists and engineers are expected to join Nano
Dimension upon closing of the transaction, the potential of
AI/ML/DL in Nano Dimension’s industry, development of next
generation devices, DeepCube pursuing opportunities as part of Nano
Dimension’s strategy, and the Company’s vision of
INDUSTRY 4.0 solutions. Because such statements deal with future
events and are based on Nano Dimension's current expectations, they
are subject to various risks and uncertainties. Actual results,
performance or achievements of Nano Dimension could differ
materially from those described in or implied by the statements in
this press release. The forward-looking statements contained or
implied in this press release are subject to other risks and
uncertainties, including those discussed under the heading “Risk
Factors” in Nano Dimension’s annual report on Form 20-F filed with
the Securities and Exchange Commission (“SEC”) on March 11, 2021,
and in any subsequent filings with the SEC. Except as otherwise
required by law, Nano Dimension undertakes no obligation to
publicly release any revisions to these forward-looking statements
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. References and
links to websites have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release. Nano Dimension is not
responsible for the contents of third-party websites.
NANO DIMENSION INVESTOR RELATIONS
CONTACT
Yael Sandler, CFO |
ir@nano-di.com
U.S. Investor Relations:
Dave GentryRedChip Companies
Inc.Dave@redchip.com407-491-4498 or 1-800-RED-CHIP (733-2447)
- DeepCube Management
- DeepCube team members
Nano Dimension (NASDAQ:NNDM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Nano Dimension (NASDAQ:NNDM)
Historical Stock Chart
From Sep 2023 to Sep 2024