Nano Dimension Ltd. (Nasdaq: NNDM), (“Nano Dimension” or the
“Company”), an industry leader in
Additively
Manufactured
Electronics
(
AME)/3D-
Printed
Electronics (
PE), and
Micro
Additive
Manufacturing
(
Micro-
AM) announced today the acquisition of Global
Inkjet Systems Ltd. (GIS).
GIS, based in Cambridge, UK, is a leading
developer and supplier of high-performance control electronics,
software, and ink delivery systems. Founded in 2006, the
company is well known for inventing and delivering state-of-the-art
2D and 3D printing inkjet hardware and unique operating software.
GIS has more than 130 customers around the world with a focus on
high-value, precision-oriented applications such as specialized
direct-to-container packaging, printed electronics functional
fluids, and 3D printing, which can all be controlled by the
proprietary software system - Atlas.
GIS is a growing company with revenue for the 12
months ended March 31, 2021, of approximately $10 million and a
gross margin of 51%. Nano Dimension paid GIS shareholders $18.1
million in cash. In addition, it will pay between $1.3 million to
$10.7 million within the next 27 months, if GIS achieves
certain financial performance over this period.
Technology collaborations are expected to accelerate product
development
The foundation of Nano Dimension’s vision is to
provide advanced, digital production technologies for Additive
Manufacturing (AM) and 3D printed electronics that meet the speed
and efficiency standards of Industry 4.0 fabrication demands. The
combined expertise of both Nano Dimension and GIS will enable
faster product development, including the technology that is at the
center of next-generation systems.
“GIS’ ink delivery technology and software are
essential to any ink deposition methodology within our AME and AM
solutions. GIS’ research and development roadmap will help us to
deliver better resolution and higher productivity in our industrial
3D printing solutions,” commented Yoav Stern, Chairman and Chief
Executive Officer of Nano Dimension. “As a result of this
acquisition, we will be able to improve our technology’s
performance and time to market. The combined company will own and
have access to innovative and yet-to-be-released printing
technologies, providing value and leading-edge solutions tailored
to our customers’ needs and giving us a clear competitive
advantage.”
Commercial synergies will contribute to Nano
Dimension’s growth
GIS will continue to develop and sell its
breakthrough hardware and software globally while taking advantage
of Nano Dimension’s go-to-market resources and global reach. This
combination will enable GIS to more effectively penetrate
fast-growing printing markets. Emerging AM market segments
especially rely on GIS’ level of precision that enables advanced
industrial applications. In parallel, the merger will provide Nano
Dimension with exposure to new market segments and application
areas.
“We are very excited to be joining a company
that recognizes the excellence of our technologies, our passion for
innovation and matches our customer-focused culture,” stated Nick
Geddes, Founder, and CEO of GIS. “Working together, we will be
pushing the envelope beyond existing printing capabilities in ways
our customers will gain advantages that are unmatched yet.”
“This is a win-win for both organizations,”
stated Mr. Stern. “Combining forces and resources will enable
growth for the integrated company at an accelerated pace. This
merger will upgrade Nano Dimension’s product line with GIS’
innovative hardware and software. In parallel, our go-to-market
network will expand GIS’ commercial horizon and customer base. The
combination of both companies will further leverage the
customer-focused culture across the entire organization.”
Sullivan & Worcester Tel Aviv and Edwin Coe
LLP (London) acted as legal counsel to Nano Dimension in connection
with the acquisition.
Investor Conference Call
January 6, 2022, at 9:00 AM ET
Nano Dimension will host an investor call to
update on the above acquisition, on January 6, 2022, 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: +1-866-744-5399 Israel Dial-in
Number : +972-3-9180692 At: 9:00 a.m.
Eastern Time , 6:00 a.m.
Pacific Time Participants can register for the conference
call by navigating to
https://Veidan.activetrail.biz/nanodimension-2022.
A REPLAY will be available after
the end of the conference call on the Nano Dimension website.
About GIS
GIS is the leading developer and supplier of
application software, drive electronics, and ink system components
– supporting a wide range of industrial printers. GIS’ technology
drives thousands of printheads in a single pass, XY scanning, 3D,
and customized systems worldwide. Its customers integrate their
products into industrial printers and use the technology as a
platform for rapid product development.
See more at:
https://www.globalinkjetsystems.com/
About Nano Dimension
Nano Dimension’s (Nasdaq: NNDM) vision is to
transform the electronics and similar additive manufacturing
sectors through the development and delivery of environmentally
friendly and economically efficient additive manufacturing,
Industry 4.0 solution, while enabling a
one-production-step-conversion of digital designs into
functioning devices - on-demand, anytime,
anywhere.
Nano Dimension plans to execute on this vision by building an
eco-friendly and intelligent distributed network of additively
manufacturing self-learning & self-improving systems, which are
designed to deliver a superior ROI to their owners as well as to
Nano Dimension shareholders and stakeholders.
The DragonFly IV® system serves
cross-industry High-Performance Electronic
Devices (Hi-PEDs®) fabrication needs,
by depositing proprietary conductive and dielectric materials
simultaneously, while concurrently integrating in-situ capacitors,
antennas, coils, transformers, and electromechanical components.
The outcomes are Hi-PEDs® which are integral enablers
of autonomous intelligent drones, cars, satellites, smartphones,
and in vivo medical devices. These products enable iterative
development, IP safety, fast time-to-market, and device performance
gains. With DragonFly IV®, a revolution happens at the click of a
button, allowing customers to go from CAD to a functional device in
a matter of hours instead of weeks; creating products with better
performance; reducing the size and weight of electronic parts and
devices; enabling innovation; and, critically important, protecting
IP, all the while limiting environmental pollution and chemical
waste.
Nano Dimension’s Fabrica 2.0 micro
additive manufacturing system enables the production of microparts
based on a Digital Light Processor (DLP) engine that achieves
repeatable micron levels resolution. The Fabrica 2.0 is engineered
with a patented array of sensors that allows a closed feedback
loop, using proprietary materials to achieve very high accuracy
while remaining a cost-effective mass manufacturing solution. It is
used in the areas of micron-level resolution of medical devices,
micro-optics, semi-conductors, micro-electronics,
micro-electro-mechanical systems (MEMS), microfluidics, and life
sciences instruments. For more information, please visit
www.nano-di.com.
In November 2021, Nano Dimension announced the
acquisition of Essemtec AG, located in Lucerne Canton,
Switzerland. Essemtec develops production equipment for electronic
assembly. The company’s core business is in adaptive, highly
flexible surface-mount pick-and-place equipment, materials
dispenser suitable for both high-speed dispensing and
microdispensing as well as an intelligent production material
storage and logistics system. Read more at:
https://investors.nano-di.com/press-releases/news-details/2021/Nano-Dimension-Acquires-Essemtec-AG-Surface-Mount-Pick--Place-Systems-Supplier-for-the-PCB-and-OEM-Industries/default.aspx
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
that the technology collaborations are expected to accelerate
product development, the potential benefits to Nano Dimension of
the acquisition of GIS, the potential benefits of GIS’ products,
and their ability to enhance Nano Dimension’s products, the
potential for additional payments to GIS’ shareholders, Nano
Dimension’s visions, access to new market segments and application
areas for Nano Dimension, and that the combination of both
companies will result in cost savings and efficiencies of
operations and further leverage of the customer-focused culture
across the entire organization. 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 CONTACTYael 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)
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