Desktop Metallic buys 3D-printing competitor for $300 million

Burlington-dependent Desktop Metal stated Friday that it had acquired EnvisionTEC, a fellow maker of 3D-printing technologies, in a $300 million deal.



Ric Fulop standing in front of a computer: Desktop Metal CEO Ric Fulop in a lab with 3D printers. (Lane Turner/Globe Staff)


© Lane Turner/World Employees
Desktop Metal CEO Ric Fulop in a lab with 3D printers. (Lane Turner/Globe Employees)

EnvisionTEC, based in Dearborn, Mich., was launched in 2002 and sells 30 distinctive printer configurations that medical, expert, and industrial customers use to generate objects from digital structure information. Desktop Metal, launched in 2015, explained the deal would a lot more than double its distribution network.

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The go follows Desktop Metal’s entry into the inventory marketplace very last thirty day period. The corporation received about $580 million as portion of that prior deal, in which it merged with a business whose shares have been currently general public. Desktop Metal has reported the merger valued its business at $2.5 billion.

On Friday, Desktop Metallic main executive Ric Fulop rang the opening bell on the New York Stock Trade in celebration of the EnvisionTEC deal, the enterprise reported.

“Together, Desktop Steel and EnvisionTEC have an option to form the future … and remodel how pieces are manufactured close to the entire world,” Fulop stated in a statement.

The offer is envisioned to close by the end of March, and EnvisionTEC will keep on being a distinct subsidiary of Desktop Steel.

Desktop Steel shares ended the working day at $23.75, up about 1.7 p.c.

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