07-12-2022: Markforged announced the acquisition of Digital Metal for over $30 million
The company continued to operate under the Digital Metal brand as a subsidiary of Markforged
On July 12, 2022, Markforged – a leading company producing 3D printers that print with high-performance plastics and metals – signed an agreement with Höganäs AB to acquire Digital Metal, a company specializing in the production of metal 3D printers using proprietary Binder Jetting technology.
As part of the transaction, Markforged was to pay Höganäs $32 million in cash, 4.1 million shares of Markforged common stock, and an additional $1.5 million in cash to settle intercompany balances, subject to certain adjustments. The transaction was formally completed on August 31, 2022.
The company continued to operate under the Digital Metal brand as a subsidiary of Markforged.
Through the acquisition of Digital Metal, Markforged expanded its position in metal additive manufacturing with Binder Jetting processes, in addition to its existing metal extrusion capabilities. The company viewed these types of 3D printers as a "highly scalable" technology for the additive manufacturing of production-grade parts.
Digital Metal was founded in 2003 by Höganäs AB in Sweden, introducing a proprietary 3D printing process that provided high productivity, excellent surface finish, and resolution. This technology has been used over the years to produce hundreds of thousands of parts used in consumer products, automotive, and research projects.
Source: www.hoganas.com