Desktop Metal to acquire ExOne
Desktop Metal Inc. and AFS Corporate Member The ExOne Company have announced Desktop Metal will acquire all of the issued and outstanding shares of ExOne common stock. Valued at $575 million, the transaction has been unanimously approved by the Board of Directors of ExOne and is expected to close in the fourth quarter of 2021.
“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.”
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. A press release stated the combination of ExOne’s direct sales force with Desktop Metal’s global distribution network of over 200 channel partners 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.