As anticipated, today it’s official: EnvisionTEC is a Desktop Metal company following the close of the latest major 3D printing acquisition.
Announced last month, the $300M acquisition is a bold move. It was also largely unanticipated: a company so dedicated to metal 3D printing that it’s in their name is bringing a major player in photopolymers into its portfolio. Desktop Metal framed the move as one that fits into their focus on additive manufacturing for production.
“With EnvisionTEC now a part of Desktop Metal, we are well positioned to offer customers a complete platform across polymers and metals, focused on Additive Manufacturing 2.0 solutions for volume production of end-use parts. Together, we have more than 200 distribution partners around the world that extend our reach into applications across fast-growing markets for additive manufacturing, such as dental, medical, and jewelry, in addition to doubling down on the broader industrial market. As we join forces, I’m more confident than ever we can accelerate the adoption of AM 2.0 and help customers transform how parts are made around the world,” said Desktop Metal Co-Founder and CEO Ric Fulop.
Desktop Metal x EnvisionTEC
The finalized business move sees EnvisionTEC now a wholly owned subsidiary of Desktop Metal. Al Siblani, Founder and CEO of EnvisionTEC, will continue to lead operations as the CEO of the EnvisionTEC business.
The companies shared a look at four pillars of acquisition strategy during last month’s investor discussion. The strategic rationale includes:
- EnvisionTEC is the original inventor of DLP 3D printing technology and leader in area-wide photopolymer additive manufacturing for mass production applications
- Combination enhances product portfolio, creating a one-stop shop across polymers and metals
- Complementary channels yield cross selling opportunities in key verticals – dental, jewelry, medical
- Leverage Desktop Metal’s proven SPJ technology to advance Robotic Additive Manufacturing
In another slide, they shared a look at the unified and expanding product portfolio, focusing on “Additive Manufacturing 2.0”:
In addition to these systems, EnvisionTEC has now added to the Desktop Metal portfolio:
- 140+ issued and pending patents
- 190+ qualified materials for its platforms
- 5,000+ customers “across a broad range of industries, including automotive, aerospace, medical devices, jewelry, and biofabrication”
- 1,000 specifically dental customers “now using its printers for pre-production and end-use parts in this segment”
Today’s release also notes:
“The acquisition more than doubles Desktop Metal’s global distribution network, adding vertically focused partners in markets such as medical, dental, and jewelry, and increasing its geographic sales capabilities to 68 countries around the world.”
While the move was one we didn’t see coming — and moves “Desktop Metal” further from its original name roots — it’s clearly a strong one.