DEARBORN — Desktop Metal, a Burlington, Massachusetts-based 3D printing solutions company, has acquired the Deaborn-based 3D printing manufacturer EnvisionTEC for $300 million.
With this acquisition, EnvisionTEC will operate as a wholly owned subsidiary of Desktop Metal. EnvisionTEC founder and CEO Al Siblani will continue to serve as CEO of his Dearborn-based business.
“Bringing the two companies together will deliver a global footprint of customers that can cross benefit from our combined technology platforms,” Siblani said. “I believe we have many opportunities to scale the business, disrupt traditional manufacturing, expand our customer base and create value for our shareholders.
“I am excited and honored 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,” Siblani added.
“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,” said Ric Fulop, founder and CEO of Desktop Metal. “I look forward to welcoming EnvisionTEC to the Desktop Metal team to deliver world-class additive manufacturing solutions that help make our customers successful.
“I’m thrilled to partner with Al and the EnvisionTEC team to bring significant growth to the additive market,” Fulop added.
As the original inventor of digital light processing (DLP) 3D printing technology, EnvisionTEC has one of the strongest intellectual property portfolios in the 3D printing market, counting more than 140 issued and pending patents. It has more than 5,000 customers across a broad range of industries, including medical devices, jewelry, automotive, aerospace and biofabrication, and recently aided in the supply of nasal swabs for COVID-19 tests by printing massive volumes at high speeds for its healthcare customers.
Founded in 2002 with its pioneering commercial DLP printing technology, EnvisionTEC now sells more than 30 printer configurations based on five distinct technologies that build objects from digital design files. The company’s premium 3D printers serve a variety of medical, professional and industrial markets, and are valued for precision, surface quality, functionality and speed.
Siblani has been recognized with a variety of awards, including the EY Entrepreneur Of The Year 2015 Award in the technology category. He holds a bachelor of science in electrical engineering from Lawrence Technological University and a master’s of science in electrical engineering from Wayne State University.
Desktop Metal, is a major player in the manufacturing field, with an expansive portfolio of 3D printing solutions, from rapid prototyping to mass production. Founded in 2015 by leaders in advanced manufacturing, metallurgy and robotics, the company says it is addresses the unmet challenges of speed, cost and quality to make additive manufacturing an essential tool for engineers and manufacturers around the world. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies.