Markforged completes acquisition of Digital Metal
The second of the company's acquisitions this year extends Markforged’s capabilities into the mass production of metal parts
In July, earlier this year, news broke that Markforged was set to acquire Digital Metal. This was to be the second acquisition this year for Markforged, after the company bought Teton Simulation Software, back in April, and whose technology was integrated into Markforged’s Eiger 3D printing software.
Markforged, the creator of the integrated metal and carbon fiber additive manufacturing platform, The Digital Forge, has now successfully completed the acquisition of Digital Metal, the creator of a precise and reliable binder jetting solution – extending the company’s capabilities into high-throughput production of metal additive parts.
Digital Metal’s solution is designed to provide high-precision, best-in-class part quality, and reliability. The company’s powder binder jetting capabilities for production-grade parts enable manufacturers to produce high volumes of functional metal parts with a variety of metal materials, with minimal setup required. Digital Metal printers have produced hundreds of thousands of parts for leaders in consumer products, automotive, academia, and other industries.
Markforged acquired Digital Metal from Höganäs AB for approximately $32 million in cash, approximately 4.1 million shares of Markforged common stock, and approximately $1.5 million in cash to settle certain intercompany balances. Digital Metal, and its team of professionals, will continue to operate under the Digital Metal brand, as a subsidiary of Markforged.
“We are excited to successfully complete the acquisition of Digital Metal, and officially welcome its team to Markforged,” said Shai Terem, President and CEO of Markforged. “Together, we will continue advancing our vision for distributed manufacturing by bringing the high volume production of precise metal parts directly to the point of need. By integrating Markforged’s software capabilities and global go-to-market engine with Digital Metal’s precise and reliable binder jetting solution, we expect to unlock significant opportunities to further accelerate Digital Metal adoption into our existing and future customers.”