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Israeli 3D printing firm Nano Dimension (Nasdaq: NNDM) has reported a 12.1% holding in Rehovot-based 3D printing firm Stratasys (Nasdaq: SSYS). The stake is at the moment price $152 million available on the market.
The acquisition of the shares, with among the almost $1.5 billion, which it raised, in a sequence of public choices on Wall Avenue in late 2020 and early 2021, makes Nano Dimension the biggest shareholder in Stratasys – a fair greater holding than Cathie Wooden’s Ark Fund, which holds shares in each firms.
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Sources near Nano Dimension insist that the corporate will not be launching a hostile takeover. Stratasys focuses on 3D printing of polymers for manufacturing trade whereas Nano Dimension focuses on 3D printing of digital parts.
Nano Dimension has a market cap of $860 million, down 80% from its peak final yr, whereas Stratasys has a market cap of $1.26 billion, after its share worth has fallen solely 5% over the previous yr.
Nano Dimension mentioned, “With $521 million and $607 million of income in 2020 and 2021, respectively, Stratasys is a pacesetter within the international shift to AM by means of sensible and related 3D printers, polymer supplies, a software program ecosystem and components on demand. Stratasys serves prospects worldwide by reworking product design, bringing agility to manufacturing and provide chains, and bettering affected person care.”
Nano Dimension chairman and CEO Yoav Stern mentioned, “The aim of Nano Dimension in shopping for Stratasys shares is the formation of a strategic funding in a market-leader which is properly established in a comparatively seasoned market section, whereas Nano Dimension’s disruptive applied sciences in AME and 3D metallic printing provide its shareholders with worth created by accelerated development and growth curves. Therefore, an investor in Nano Dimension will acquire from its worth creation in “blue ocean” kind AM sectors plus having strategic upside from funding in Stratasys, which enjoys a commanding presence in giant, steady extra mature, principally polymer-based AM applied sciences. In distinction, Nano Dimension’s materials growth thrusts and enterprise mannequin technique are centered round metals with electro-mechanical conductive parameters, metals with superior mechanical qualities, dielectric materials, and printing of multi-dimensional-electronic units and mechanical components.”
Printed by Globes, Israel enterprise information – en.globes.co.il – on July 18 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
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