The deal is worth between $18 and $28 million in cash (depending on performance)
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Nano Dimension Ltd. (Nasdaq: NNDM), a specialist in Additively Manufactured Electronics (AME)/3D-Printed Electronics (PE), and Micro Additive Manufacturing (Micro-AM) has acquired 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. As a proven supplier to the additive manufacturing, market GIS supports a wide range of printheads from major manufacturers, including Fujifilm Dimatix, Konica Minolta, Kyocera, Ricoh, SII Printek, Toshiba TEC and Xaar. With this acquisition, Nano Dimension could carve itself a key role as a provider of 3D printed electronics for 3D printer component and 3D printer manufacturers.
The Dragonfly system in operation within the LDM process workflow.
The company established a customer base in AM and expertise in binder jet (metal and sand) and polymer jetting and 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’ 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.”
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.
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.
Avtor Davide Sher