Desktop Metal, Inc., Burlington, Massachusetts, USA, has announced it is to acquire EnvisionTEC, a global provider of volume production photopolymer Additive Manufacturing solutions for end-use parts. The $300 million deal is expected to close in the first quarter of 2021 and, following completion, EnvisionTEC will operate as a wholly-owned subsidiary of Desktop Metal. Al Siblani, EnvisionTEC founder, will continue to serve as Chief Executive Officer of the EnvisionTEC business.
The acquisition more than doubles Desktop Metal’s global distribution network and increases its geographic sales capabilities to sixty-eight countries around the world. EnvisionTEC will add a robust set of vertically-focused partners in the dental and jewellery markets, which Desktop Metal plans to leverage to sell its metal Additive Manufacturing solutions.
“I’m thrilled to partner with Al and the EnvisionTEC team to bring significant growth to the additive market,” stated Ric Fulop, founder and Chief Executive Officer of Desktop Metal. “EnvisionTEC is a true pioneer and responsible for many of the leading technologies widely used today to produce end-use photopolymer parts through Additive Manufacturing. Together, Desktop Metal and EnvisionTEC have an opportunity to shape the future of Additive Manufacturing 2.0 and transform how parts are made around the world. I look forward to welcoming EnvisionTEC to the Desktop Metal team to deliver world-class additive manufacturing solutions that help make our customers successful.”
Stated as being the original inventor of digital light processing (DLP) Additive Manufacturing technology, EnvisionTEC is reported to have one of the strongest intellectual property portfolios in the area-wide photopolymer AM market, counting over 140 issued and pending patents, which Desktop Metal believes includes blocking intellectual property.
Today, EnvisionTEC has over 5,000 customers across a broad range of industries, including medical devices, jewellery, automotive, aerospace, and biofabrication. In addition, the company is a leader in the dental market, more than tripling the number of Envision One dental shipments from 2019 to 2020 and with over 1,000 dental customers now using its AM machines for end-use parts. Key customers include Cartier, Celgene, Ford, Hasbro, Oral Arts, Stuller, and Smile Direct Club.
“I am excited and honoured to partner with Ric and the Desktop Metal team to deliver end-use parts in both metal and polymers as we implement Ric’s vision on the future of Additive Manufacturing 2.0,” added Siblani. “Bringing the two companies together will deliver a global footprint of customers that can cross-benefit from our combined technology platforms. I believe we have many opportunities to scale the business, disrupt traditional manufacturing, expand our customer base, and create value for our shareholders.”
In addition to extensive customer adoption, EnvisionTEC has a broad library of over 190 materials, featuring photopolymer resins with material properties in-line with or exceeding those of thermoplastics and multiple FDA-listed and 510(K)-cleared resins for the manufacturing of medical devices. The company augments its robust proprietary material development efforts with a selectively open business model, leveraging relationships with major chemical companies such as Henkel Loctite, DSM Somos, Detax, Keystone, and Arkema to sell third-party, industry-validated resins for use with its Additive Manufacturing platforms.