Acquisitions, Mergers & PartnershipsAM Industry

Nano Dimension acquires NanoFabrica

Consolidation continues in the AM industry

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As acquisitions and consolidation continue in the AM industry, electronics 3D printing company Nano Dimension signed and closed a definitive agreement to acquire NanoFabrica Ltd. Nano Dimension was recently able to leverage cash inflow from rising stock value to complete some significant expansion activities and acquisitions. NanoFabrica’s portfolio of micro 3D printing technologies fits ideally with Nano Dimensions activities.

NanoFabrica is a prominent player in the field of precision digital manufacturing. Its industrial additive manufacturing systems have micron-resolution with ultra-fine features, details, accuracy, and precision – enabled by proprietary Micro Adaptive Projection technology. NanoFabrica’s applications require high precision, overlapping the typical 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 are going to continue to be led by NanoFabrica’s two founders, Dr. Jon Donner, who holds a PhD in nano-optics and earned a double degree in physics and electrical engineering, and Mr. 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,” said 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 (Hi-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.”

“In addition,” Mr. Stern said, “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” will be furnished by additional edge devices in the form of NanoFabrica’s 3D-micro-printing systems. Eventually, 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: print them as you need them, where you need them, only the quantity you need, in the best quality at competitive prices, as it is done in highest yield and throughput possible for that point in time, specifically in high mix/low volume scenarios.”

Dr. Jon Donner, Chief Executive Officer and co-founder of NanoFabrica, who will become General Manager of the NanoFabrica Division of Nano Dimension, commented: “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. By combining the advanced capabilities of deep learning together with our manufacturing systems, we hope to improve printing speed by five times and yield by 20 times. Henceforth, by integrating our ultra-precise miniaturization capability with Nano Dimension’s Hi-PEDsTM (High-Performance-Electronic-Devices), we shall become a transformative power in our vertical markets. Nano Dimension-NanoFabrica’s combined offering will greatly increase the number of applications that can be relevant for mass manufacturing on our planned neural network of digital manufacturing systems.”

As part of this deal, Nano Dimension will pay the shareholders of NanoFabrica a total ranging between $54.9 million to $59.4 million. Out of that, between $23 million to $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.

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