Nano Dimension Bids $1.1 Billion for Stratasys: $100 Million less than in March
Dec. 23, 2023
3D printing company stocks have fallen over the past year, and Stratasys has traded close to $13 per share for the past few months after peaking at $21 in July.
Merger fights may not be over in the 3D printing world. Early Saturday morning, Dec. 23, 2023, Israeli additive manufacturing company Nano Dimension bid $1.1 billion for Stratasys, an Israeli 3D printing rival.
The proposed $16.50 purchase price is a massive discount to the $18 per share bid in March, a figure Nano Dimension later increased to $25. At $1.1 billion, the new bid is more than $500 million lower than what Nano Dimension offered at its peak.
The new, lower proposal at the tail end of 2023 implies that this year’s wild ride in the additive manufacturing space continues. Throughout the past year, Stratasys considered bids from Nano Dimension and 3D Systems to buy the company while pursuing its own bid for metal additive manufacturing company Desktop Metal.
None of those deals came to fruition with shareholders soundly rejecting the Stratasys-Desktop Metal merger in September.
At the heart of the merger mania of 2023 is that after decades of development, none of the major additive companies are profitable (Stratasys claims it is profitable on an operating basis, but it still reports as GAAP financial loss), and several executives have argued that combining will give the companies larger scale needed to develop new technologies and serve more markets.
Bio: Robert Schoenberger has been writing about manufacturing technology in one form or another since the late 1990s. He began his career in newspapers in South Texas and has worked for The Clarion-Ledger in Jackson, Mississippi; The Courier-Journal in Louisville, Kentucky; and The Plain Dealer in Cleveland where he spent more than six years as the automotive reporter. In 2014, he launched Today's Motor Vehicles (now EV Manufacturing & Design), a magazine focusing on design and manufacturing topics within the automotive and commercial truck worlds. He joined IndustryWeek in late 2021.
