3D printer manufacturer Nano Dimension has outlined a new “strategic vision” after the Delaware Court of Chancery ordered it to complete the Desktop Metal merger.
Ofir Baharav, Nano’s Chairman, stated that the company is “disappointed with the decision of The Delaware Court of Chancery” and is “considering all of our options.” Despite this, he acknowledged that “the transaction may close.”
As a result, the micro-3D printing specialist’s Board of Directors “have been diligently planning for a rapid, successful integration of Desktop Metal’s people, products, and assets to help the combined company become a world leader in digital manufacturing.”
Nano’s management team was restructured in December 2024 after Yoav Stern was removed as CEO and member of the Nano Dimension Board of Directors. The company’s other incumbent Directors were subsequently removed or resigned, and were replaced by a new lineup backed by activist shareholder Murchinson Ltd.
The former CEO was a vocal advocate of Nano Dimension’s M&A activity. His removal raised doubts over the company’s deals with Desktop Metal and US FDM 3D printer OEM Markforged. Murchinson, a staunch critic of Stern, previously called the offers for Desktop Metal and Markforged “overpriced” and “misguided.
Despite this, Nano claims to have “Diligently prepared for the integration of Desktop Metal,” stating that these efforts will allow it to “maximize the combined entity’s potential.” The firm added that the acquisition of Desktop Metal and its pending merger with Markforged “would significantly expand Nano Dimension’s scale and customer base.”
Nano Dimension to complete Desktop Metal merger
In July 2024, Nano Dimension agreed to acquire Desktop Metal in an all-cash deal worth approximately $183 million, or $5.50 per share. Then-CEO Yoav Stern claimed that this deal would create a “larger, more diversified global innovative company” and generate “long-term value creation for shareholders.” This was followed in September 2024 with Nano’s $115 million agreement to acquire Markforged at $5.00 per share.
In December, Desktop Metal filed a lawsuit against Nano Dimension, accusing the defendant of failing to make “reasonable best efforts” to attain timely regulatory approval. Nano denied the allegations, arguing that the suit was “without merit.” Burlington, Massachusetts-based Desktop Metal later filed a second lawsuit naming Markforged as a co-defendant. This new litigation alleged that the planned acquisition of Markforged violated Nano’s agreement with Desktop Metal and threatened its completion.
Last week, the Delaware Court of Chancery ordered Nano Dimension to uphold its Desktop Metal merger agreement. If the deal isn’t finalized by March 31, 2025, Desktop Metal can extend the deadline indefinitely until its completion.
As a result, Nano Dimension appears committed to delivering on its merger agreements and has reaffirmed its strategic objective announced in a January letter to shareholders. The company aims to become a “preeminent provider of digital manufacturing solutions” for “high-value, high-growth applications” in multiple industries. These include aerospace, defense, automotive, electronics, industrial, and medical fields.
Nano Dimension has also announced four key strategic pillars to achieve this target. The first, “Maintaining Financial Strength,” seeks to guarantee a robust capital base. The “Driving Profitable Growth” pillar will focus on expanding “cutting edge technology” and a “growth outlook” that can drive positive financial results.
“Growing Margins” is another strategic pillar. This will consolidate supply chains and information systems to “achieve manufacturing excellence.” Finally, “Building Indispensable Customer Partnerships” aims to position Nano Dimension as a critical partner across manufacturing. Together, these pillars seek to drive future growth and create long-term value for shareholders, customers, and employees.
New 3D printing M&A developments
3D printing mergers and acquisitions have been a hot topic in 2025. US-based specialty metals company United Performance Metals (UPM) recently acquired Ohio-based metal printing specialist Fabrisonic LLC.
Through the deal, UPM, an O’Neal Industries affiliate, hopes to enhance its manufacturing capabilities and grow its product offerings. Fabrisonic will become part of UPM’s specialty processing network. This includes Precision Thin Strip in Wallingford, CT; UPM Advanced Solutions in Cincinnati, OH; and Precision Cold Saw Cutting and Grinding in Oakland, CA.
In other business news, American Axle & Manufacturing (AAM) finalized an agreement to acquire engineering company Dowlais Group in a $1.44 billion cash and share deal. The newly combined entity will operate out of Detroit, Michigan, headed by AAM Chairman and CEO David C. Dauch.
Elsewhere, 3D printing furniture startup Model No. acquired Ohio-based 3D printing company IC3D. The deal came as Model No. faced financial challenges related to scaling its operations, aggravated by the high costs of maintaining and upgrading its specialized 3D printing equipment. CEO Phillip Raub will leave the company, with none of Model No.’s personnel transitioning to IC3D.
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Featured image shows Nano Dimension 3D printed electronics. Photo by Michael Petch.
