April 27, 2021
Nano Dimension Ltd., additively manufactured electronics (AME)/3D-printed electronics provider, has signed and closed a definitive agreement to acquire NanoFabrica Ltd., a company targeting technology and turnkey systems for precise 3D-micro-printing (or precision additive manufacturing).
Nano Dimension will pay the shareholders of NanoFabrica a total ranging between $54.9 million and $59.4 million. Out of that, between $23 million and $27.5 million will be paid in cash (depending upon NanoFabrica meeting certain performance milestones and the founders of NanoFabrica continuing to work for a defined period after the acquisition), and approximately $32 million was paid in American Depositary Shares (ADSs) of Nano Dimension (approximately 30% of which cannot be sold for various periods of up to 24 months after the closing of the transaction). Certain cash payments will be based on NanoFabrica’s revenue and gross margin performance in the next 12 months.
NanoFabrica focuses on precision digital manufacturing. Its industrial additive manufacturing systems have a micron-resolution with ultra-fine features, details, accuracy and precision. NanoFabrica brings additive manufacturing to applications that require high precision, overlapping the target markets of Nano Dimension: aerospace, aviation, high-end electronics and automotive, medical, optics, research, education and more.
NanoFabrica’s technology and machines are designed to enable digital mass manufacturing of precise and complex parts. With advanced hardware, software and materials and a team of experts and industry veterans, they are positioned to potentially transform businesses through micro-part manufacturing innovation.
NanoFabrica’s scientists and engineers, all of whom are expected to now join Nano Dimension, are experts and industry veterans in materials, software, mechanical automation and robotics. They will continue to be led by NanoFabrica’s two founders:
Dr. Jon Donner, who holds a Ph.D. in nano optics and earned a double degree in physics and electrical engineering.
Eyal Shelef, who worked at Hewlett-Packard Company for 16 years in R&D, building large industrial machines and developing some of the most advanced materials for the digital printing industry as well as managing algorithm development, process control and advanced chemistry manufacturing processes. Eyal has registered over 35 patents under his name.
“NanoFabrica fits Nano Dimension’s vertical original equipment manufacturers’ (OEM) target markets, and as such will be leveraged by the distribution channels and go-to-market efforts of both,” says Yoav Stern, chief executive officer of Nano Dimension. “In parallel, our mutual vision is to merge the technologies of our micro-electronic 3D-fabrications machines for Hi-PEDsTM (high-performance electronic devices) with NanoFabrica’s micro-mechanic 3D printing.
“The future of Hi-PEDsTM and miniaturized high-performance printed circuit boards (PCBs) is interlaced with micro-mechanical printing applications to fit the adage 'The Next Big thing is Small,'” Stern adds. “In addition, NanoFabrica’s machines fit the larger picture of Nano Dimension’s vision, aiming to establish 'Industry 4.0 solutions, which entail building an artificial intelligence/machine learning (AI/ML) 'distributed digital fabrication application' rather than just building machines as capital equipment.”
The AI/ML/DL Distributed Electronic Fabrication Application, according to Stern, will be furnished by additional edge devices in the form of NanoFabrica’s 3D-micro-printing systems. Nano Dimension reports that the end goal is to reach a capability for maintaining an inventory of high-end PCB devices, micro-mechanical parts and Hi-PEDsTM in digital form.
“Today is an exciting day for NanoFabrica and for the entire field of precision manufacturing. We have set out on a mission to transform this traditional analog non-environmentally friendly industry, and by joining the segment leader, Nano Dimension, we will be able to fulfill our mission statement much faster and in more elaborate fashion,” says Dr. Jon Donner, chief executive officer and co-founder of NanoFabrica, who will become general manager of the NanoFabrica Division of Nano Dimension.
Sullivan & Worcester Tel-Aviv is acting as legal counsel to Nano Dimension in connection with the acquisition.
Sources: Press materials received from the company and additional information gleaned from the company’s website.