EnvisionTEC’s Category-Leading Product and
IP Portfolios Expand Desktop Metal’s Reach to Photopolymer 3D
Printing, Digital Biofabrication, and Digital Casting Markets,
Offering Go-to-Market Synergies Via Robust, Vertically Focused
Dental, Medical and Jewelry Channels
Desktop Metal, Inc. (NYSE: DM), a leader in mass production and
turnkey additive manufacturing solutions, today announced it has
completed the previously announced acquisition of EnvisionTEC, a
leading global provider of volume production photopolymer 3D
printing solutions for end-use parts. The transaction is valued at
$300 million, consisting of a combination of cash and Desktop Metal
stock and subject to customary adjustment.
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Desktop Metal today acquires EnvisionTEC,
a leading global provider of volume production photopolymer 3D
printing solutions for end-use parts, and a pioneer in digital
biofabrication additive manufacturing for the production of
biocompatible parts for medical applications such as bone
regeneration, cartilage regeneration, soft tissue fabrication, drug
release, and organ printing.
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.”
As the original inventor of digital light processing (DLP) 3D
printing technology, EnvisionTEC has one of the strongest
intellectual property portfolios in the area-wide photopolymer 3D
printing market, counting more than 140 issued and pending patents.
The company has in excess of 190 qualified materials for its
platforms and more than 5,000 customers across a broad range of
industries, including automotive, aerospace, medical devices,
jewelry, and biofabrication. In addition, EnvisionTEC is a leader
in the dental market, with over 1,000 dental customers now using
its printers for pre-production and end-use parts in this
segment.
EnvisionTEC also brings a compelling product portfolio for
photopolymer additive manufacturing under Desktop Metal’s umbrella,
including the new Envision One and Xtreme 8K printing platforms
designed to deliver high-speed and economic end-use parts
production with exceptional accuracy and properties meeting or
exceeding thermoplastics. The company is a pioneer in digital
biofabrication additive manufacturing with its Bioplotter platform,
which supports the production of biocompatible parts for medical
applications such as bone regeneration, cartilage regeneration,
soft tissue fabrication, drug release, and organ printing. In
addition, Desktop Metal adds EnvisionTEC’s robotic additive
manufacturing (RAM) digital casting capabilities, which it plans to
significantly advance using its proprietary and patent-pending
Single Pass Jetting™ technology originally developed for the
Production System™ to drive productivity enhancements and improve
part economics.
The acquisition more than doubles Desktop Metal’s 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.
About Desktop Metal
Desktop Metal, Inc., based in Burlington, Massachusetts, is
accelerating the transformation of manufacturing with an expansive
portfolio of 3D printing solutions, from rapid prototyping to mass
production. Founded in 2015 by leaders in advanced manufacturing,
metallurgy, and robotics, the company is addressing the unmet
challenges of speed, cost, and quality to make additive
manufacturing an essential tool for engineers and manufacturers
around the world. Desktop Metal was selected as one of the world’s
30 most promising Technology Pioneers by the World Economic Forum
and named to MIT Technology Review’s list of 50 Smartest
Companies.
For more information, visit www.desktopmetal.com.
About EnvisionTEC
EnvisionTEC is a leading global provider of professional-grade
3D printing solutions. Founded in 2002 with its pioneering
commercial DLP printing technology, EnvisionTEC now sells more than
30 printer configurations based on five distinct technologies that
build objects from digital design files. The company’s premium 3D
printers serve a variety of medical, professional and industrial
markets, and are valued for precision, surface quality,
functionality and speed.
For more information, visit www.envisiontec.com.
Forward Looking Statements
This communication relates to a business combination transaction
between Desktop Metal, Inc. (“Desktop Metal”) and EnvisionTEC, Inc.
(“EnvisionTEC”). This communication includes forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements other than statements of
historical facts contained in this communication, including
statements regarding the anticipated benefits of the transaction,
anticipated impact of the transaction on Desktop Metal’s future
results of operations and financial position, the amount and timing
of synergies from the transaction, and other aspects of Desktop
Metal’s operations or results, are forward-looking statements.
These statements involve known and unknown risks, uncertainties and
other important factors that may cause actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking statements. In some cases, you can identify
forward-looking statements by terms such as “may,” “will,”
“should,” “expect,” “plan,” “anticipate,” “could,” “intend,”
“target,” “project,” “contemplate,” “believe,” “estimate,”
“predict,” “potential” or “continue” or the negative of these terms
or other similar expressions. The forward-looking statements in
this communication are only predictions. Desktop Metal has based
these forward-looking statements on current information and
management’s current expectations and beliefs. These
forward-looking statements speak only as of the date of this
communication and are subject to a number risks and uncertainties,
including, without limitation, the following: the impact of the
COVID-19 pandemic on Desktop Metal’s and EnvisionTEC’s business,
including their suppliers and customers; the effect of the
transaction (or announcement thereof) on the ability of Desktop
Metal or EnvisionTEC to retain and hire key personnel and maintain
relationships with customers, suppliers and others with whom they
do business; risks that the transaction disrupts current plans and
operations; successful integration of Desktop Metal’s and
EnvisionTEC’s businesses and realization of synergies and benefits;
the ability of Desktop Metal to implement business plans, forecasts
and other expectations following the completion of the transaction;
risk that actual performance and financial results following
completion of the transaction differ from projected performance and
results; and business disruption following the transaction. This
list of risks and uncertainties is not exhaustive. For additional
information about other risks and uncertainties that could cause
actual results of the transaction to differ materially from those
described in the forward-looking statements in this communication,
and of Desktop Metal’s business, financial condition, results of
operations and prospects generally, please refer to Desktop Metal’s
reports filed with the Securities Exchange Commission (“SEC”),
including without limitation the “Risk Factors” and/or other
information included in the Form 8-K filed by Desktop Metal on
January 15, 2021, the S-4 Registration Statement filed with the SEC
on September 15, 2020, the S-1 Registration Statement filed with
the SEC on December 23, 2020, as amended, and such other reports as
Desktop Metal has filed or may file with the SEC from time to time.
The forward-looking statements included in this communication are
made as of the date hereof. Except as required by applicable law,
Desktop Metal will not update any forward-looking statements to
reflect new information, future events, changed circumstances or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210217005225/en/
For Desktop Metal Investor / Media
Relations Lynda McKinney press@desktopmetal.com
Investor Relations Mike Callahan /
Tom Cook DesktopMetalIR@icrinc.com
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