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Markforged has confirmed the acquisition of Digital Metal having reached an agreement with Höganäs AB, enabling Markforged to expand into high-throughput production of metal additive parts.
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Markforged, the company that created integrated metal and carbon fibre additive manufacturing solution The Digital Forge, has confirmed their acquisition of Digital Metal following an agreement with Höganäs AB.
The acquisition is valued at US$32 million in cash, 4.1 million shares of Markforged common stock and approximately US$1.5 million in cash to settle some intercompany balances which are subject to adjustments.
Markforged expects the acquisition to close in the third quarter of 2022.
Creator of leading binder jetting solutions, the acquisition of Digital Metal is expected to enable Markforged to expand their business offerings to include high-throughput production of metal additive parts.
The acquisition is part of the company’s overall strategy to offer manufacturing solutions at the point of need.
According to Markforged, the recent announcement will enable manufacturers to produce large volumes of functional metal parts within a shortened set-up period. This will reduce the time transitioning from design to manufacturing phases from months, as well as removing third-party risk and improving economies of scale during periods of lower production.
Power binder jetting is seen as a highly scalable additive manufacturing technology, complimenting The Digital Forge’s original offering and solving problems for the company’s existing client base.
“With the Digital Metal acquisition, Markforged is advancing our vision for distributed manufacturing by enabling the reliable, high-volume production of precise metal parts at the point of need. Infusing Digital Metal’s solution into The Digital Forge platform allows us to address new applications in the medical, automotive, luxury goods and other industries,” Shai Terem, president and CEO of Markforged, said.
“The Digital Metal team has created a robust and scalable solution that complements our existing technologies. I look forward to welcoming their talented people to Markforged.”
Digital Metal was founded in 2003 and is a wholly owned subsidiary of Höganäs AB.
It developed the proprietary binder jetting AM technology and has been used to develop “hundreds of thousands of parts” across numerous industries.
“Markforged’s easy-to-use platform, best-in-class software capabilities and material expertise felt like a natural fit for the future of our technology,” Christian Lönne, CEO of Digital Metal, said.
“With Markforged’s experience and go-to-market scale, we are confident that we will be able to grow our technology together and help more manufacturers produce the high-volume metal parts they need to drive highly productive and cost-efficient operations.”
[Related: New 3D printer producing heat resistant industrial hardware released]
