Desktop Metal | August 12, 2021
Desktop Metal, Inc and The ExOne Company announced today they have entered into a definitive agreement pursuant to which Desktop Metal will acquire all of the issued and outstanding shares of ExOne common stock. Under the terms of the agreement, ExOne shareholders will receive $8.50 in cash and $17.00 in shares of Desktop Metal common stock for each share of ExOne common stock, for a total consideration of $25.50 per share, representing a transaction value of $575 million, subject to a collar mechanism as described below and implying a 47.6% premium to the closing price of ExOne’s common stock on August 11, 2021 and a 43.9% premium based on the 30-day average closing price of ExOne common stock. The transaction value also implies an acquisition multiple of 6.4x 2021 consensus revenue estimates for ExOne.
“We are thrilled to bring ExOne into the DM family to create the leading additive manufacturing portfolio for mass production,” said Ric Fulop, Founder and CEO of Desktop Metal. “We believe this acquisition will provide customers with more choice as we leverage our complementary technologies and go-to-market efforts to drive continued growth. This transaction is a big step in delivering on our vision of accelerating the adoption of additive manufacturing 2.0.”
“We are excited to join forces with Desktop Metal to deliver a more sustainable future through our shared vision of additive manufacturing at high production volumes,” said John Hartner, CEO of ExOne. “We believe our complementary platforms will better serve customers, accelerate adoption of green technologies, and drive increased shareholder value. Most importantly, our technologies will help drive important innovations at meaningful production volumes that can improve the world.”
More and more businesses turning to additive manufacturing expect solutions that address all of their requirements across speed, cost, resolution, and part size. The acquisition of ExOne extends Desktop Metal’s product platforms with complementary solutions to create a comprehensive portfolio combining throughput, flexibility, and materials breadth while allowing customers to optimize production based on their specific application needs. By combining ExOne’s direct sales force with Desktop Metal’s global distribution network of over 200 channel partners, the combined company will enable broader access to additive manufacturing solutions for businesses of all sizes while delivering increased materials innovation to provide customers with more choice and drive new application discovery.
About Desktop Metal:
Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies.
ExOne is the pioneer and global leader in binder jet 3D printing technology. Since 1995, we’ve been on a mission to deliver powerful 3D printers that solve our customers’ toughest problems and enable world-changing innovations. Our 3D printing systems quickly transform powder materials — including metals, ceramics, composites and sand — into precision parts, metalcasting molds and cores, and innovative tooling solutions. Industrial customers use our technology to save time and money, reduce waste, increase their manufacturing flexibility, and deliver designs and products that were once impossible. As home to the world’s leading team of binder jetting experts, ExOne also provides specialized 3D printing services, including on-demand production of mission-critical parts, as well as engineering and design consulting.
DeepCube | April 23, 2021
DeepCube, the award-winning deep learning pioneer, has agreed to be acquired by Nano Dimension Ltd. in a binding deal. DeepCube will operate as a subsidiary of Nano Dimension Ltd. after the deal is completed, developing first-of-their-kind AI-powered-Additively Manufactured Electronics (AME)/PE (3D-Printed Electronics) platforms and services.
DeepCube's training platform and real-time inference engine will be built into Nano Dimension AME 3D printers, serving as smart nodes in a Smart Fabrication Network (SFN) and the AI control center for these networks. The vision of Industry 4.0 – where machines cooperate, understand, refine, and distribute printed electronics – is now a reality because of DeepCube's experience in machine learning/deep learning.
DeepCube's ground-breaking algorithms significantly accelerate multi-domain neural models by orders of magnitude, making it an excellent match for complex and real-time edge problems, especially 3D manufacturing. To achieve aggressive performance goals, the novel DeepCube approach combines a cutting-edge training framework and a highly efficient inference engine. Smart 3D manufacturing nodes are equipped with a variety of real-time, cross-disciplinary sensors that generate GigaBytes of time-sensitive data. DeepCube's platform converts this huge volume of data through real-time insights and actions, resulting in self-learning and improving machine infrastructure. AI-powered distributed digital fabrication, pioneered by Nano Dimension and DeepCube, can enhance yield, throughput, quality, design options, and optimization.
DeepCube, the first deep learning software accelerator supporting real-world AI implementations, had a successful year before the acquisition. DeepCube won several peer and market recognitions after its May 2020 launch before deploying an extensive product suite in February 2021.
The team's experience and execution-driven ethos have resulted in several active AI-centric ventures across various hardware architectures. DeepCube's hardware-agnostic platform, in particular, has proved to be unique in its ability to accelerate diverse families of neural models, being a valuable asset for Tier-1 players.
DeepCube is a deep learning leader that offers the industry's first software-based deep learning acceleration platform that significantly boosts performance on existing hardware. DeepCube's patented technology, which is modeled after how the human brain learns through childhood, is the first to be purpose-built for the application of deep learning models in data centers and intelligent edge systems. Its proprietary framework can be implemented on top of any current hardware, resulting in significant speed and memory savings.DeepCube, led by a group of expert deep learning researchers and developers, has patented several innovations, including methods for quicker and more precise deep learning model testing, as well as significantly improved inference efficiency.
About Nano Dimension
Nano Dimension is a manufacturer of intelligent machines used in the production of Additive Manufactured Electronics (AME). Active electronic and electromechanical subassemblies with high precision are key attributes of autonomous intelligent drones, cars, satellites, smartphones, and in vivo medical devices. They necessitate iterative development, IP protection, rapid time-to-market, and system efficiency improvements, requiring the use of AME for in-house, rapid prototyping, and manufacturing. Nano Dimension machines meet cross-industry needs by simultaneously depositing proprietary consumable conductive and dielectric materials and combining in-situ capacitors, antennas, coils, transformers, and electromechanical components to achieve unparalleled efficiency. Nano Dimension bridges the gap between printed circuit boards (PCBs) and semiconductor integrated circuits (SICs).
Pharmaron | January 10, 2022
On January 9, Pharmaron Beijing Co., Limited announced the acquisition of Aesica Pharmaceuticals Limited from Recipharm.
The Cramlington Site in Newcastle, United Kingdom, has a long history of providing cGMP manufacturing services for various Active Pharmaceutical Ingredients (API), from pilot to commercial metric ton scale. The Cramlington Site has a commercial reactor capacity of more than 100 cubic meters and has been examined and certified by the MHRA, the FDA, and other regulatory bodies.
This purchase strengthens Pharmaron's global chemical and manufacturing capabilities, which are a critical component of the company's fully integrated platform. The synergistic integration of the Cramlington Site with Pharmaron's current service capabilities in discovery, process development, and early-stage cGMP API manufacture in Hoddesdon will enable the United Kingdom to have a comprehensive end-to-end chemical and manufacturing offering. Furthermore, this addition extends Pharmaron's global service network, allowing us to deliver bespoke solutions tailored to our clients' geographic and strategic requirements.
"We are delighted to have the Cramlington Site join the Pharmaron Group. This acquisition complements and further enhances Pharmaron’s CMC capabilities in the United Kingdom and China. We are committed to expanding the Cramlington site to meet growing demand. Together with our API manufacturing facility expansion in China, this transaction is another important step in realizing our vision of becoming a leading global provider of integrated small-molecule drug R&D and manufacturing services."
-Dr. Boliang Lou, Chairman and Chief Executive Officer of Pharmaron
Marc Funk, CEO of Recipharm, commented, This divestment helps us to streamline our operations in line with our strategic goals and better align with our customers’ evolving needs. In addition, I am pleased that the Cramlington Site will get a committed owner with the capacity and capability to develop it to its full potential. As a top five global CDMO, we will continue to develop and invest in our highly successful contract manufacturing business.
Goetzpartners Securities served as Pharmaron's exclusive financial advisor, while O'Melveny served as legal counsel. Results Healthcare served as Recipharm's exclusive financial advisor, while Addleshaw Goddard served as its legal counsel.