Home Enterprise Tech Desktop Metal is acquiring industrial 3D printing company ExOne

Desktop Metal is acquiring industrial 3D printing company ExOne

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Desktop Metal is acquiring industrial 3D printing company ExOne

As section of its earnings call this week, Desktop Metal announced plans to originate ExOne. The Pennsylvania-essentially based mostly company creates a form of completely different industrial 3D printers for industries treasure aerospace, car, medical and defense. Extra currently, we wrote in regards to the company’s transportable 3D printing factories, which are successfully mobile additive manufacturing stations built inside shipping containers.

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We wrote about ExOne assist in February, when the company used to be granted $1.6 million from the DoD, in hopes of taking the techniques out into the discipline. Every unit comprises a 3D scanning set with pc and a form of completely different ruggedized industrial machines, in conjunction with a metal and ceramic printer, curing oven, fiber-reinforced plastic printer and a compression modeling set.

“Over the rest two years, we’ve in spite of the whole lot targeted on offering our know-how into authorities-form applications: DoD, NASA, DoE,” ExOne’s CEO John Hartner told TechCrunch when that files broke. “On occasion individuals focus on disrupting the provision chain and getting decentralized manufacturing. This is decentralized and forward-deployed, as soon as you happen to will. Be it an emergency, humanitarian mission or frontlines for a battle fighter.”

This present day’s transaction, which is valued at $575 million, finds Desktop Metal shopping all of ExOne’s widespread stock.

“We’re delighted to lift ExOne into the DM family to accomplish the leading additive manufacturing portfolio for mass production,” Desktop Metal CEO Ric Fulop said in a liberate. “We deem this acquisition will present potentialities with more preference as we leverage our complementary applied sciences and bolt-to-market efforts to power persevered growth. This transaction is a valuable step in handing over on our vision of accelerating the adoption of additive manufacturing 2.0.”

Desktop Metal has been actively pursuing acquisitions to develop out its 3D printing portfolio because it announced plans to switch public by activity of SPAC remaining August. In January, it got EnvisionTEC for $300 million.

“We’re angry to be part of forces with Desktop Metal to ship a more sustainable future by our shared vision of additive manufacturing at high production volumes,” Hartner said of currently’s announcement. “We deem our complementary platforms will greater encourage potentialities, speed up adoption of inexperienced applied sciences, and power elevated shareholder fee. Most critically, our applied sciences will back power critical enhancements at valuable production volumes that would possibly well presumably toughen the field.”

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Desktop Metal is acquiring industrial 3D printing company ExOne