Markforged (NYSE: MKFG), creator of the integrated metal and carbon fiber additive manufacturing platform, The Digital Forge, today announced that it has successfully completed the acquisition of Digital Metal, the creator of a precise and reliable binder jetting solution, extending Markforged’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 and 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, 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.”
-Shai Terem, President and CEO of Markforged.
About Digital Metal:
Digital Metal’s proprietary binder jetting technology enables the production of highly complex objects with superior surface finish and repeatable accuracy, which is not possible with competing technologies. In addition to developing, manufacturing and selling printers, Digital Metal also offers small-volume or mass-production printing services. Many of the world’s leading aerospace, automotive, industrial, MedTech, energy, luxury and academic companies are numbered among its customers.
About Markforged:
Markforged (NYSE: MKFG) is reimagining how humans build everything by leading a technology-driven transformation of manufacturing with solutions for enterprises and societies throughout the world. The Markforged Digital Forge brings the power and speed of agile software development to industrial manufacturing, combining hardware, software, and materials to solve supply chain problems right at the point of need. Engineers, designers, and manufacturing professionals all over the world rely on Markforged metal and composite printers for tooling, fixtures, functional prototyping, and high-value end-use production. Markforged is headquartered in Watertown, Mass., where it designs its products with approximately 450 employees worldwide.