Money Makers Mentor

Desktop Metal Acquires EnvisionTEC for $300 Million

On Friday Jan. 15, Desktop Metal (NYSE: DM) announced its intention to acquire EnvisionTEC through a definitive agreement for $300 million. This consideration will consist of a combination of cash and newly issued Desktop Metal stock. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions. Desktop Metal hosted a conference call on Friday at 8:15 a.m. EST to discuss the transaction.

EnvisionTEC will operate as a wholly owned subsidiary of Desktop Metal following completion of the deal. Envision’s founder Al Siblani will continue to serve as Chief Executive Officer of the EnvisionTEC business.

Acquisition Details

This deal will more than double Desktop Metal’s global distribution network. It will also increase the company’s geog…

Leave A Reply

Your email address will not be published.