New Leadership Team to Transform Combined Company by Focusing on Products and Services With a Growth Outlook That Can Deliver Financial Results

Waltham, Massachusetts, April 02, 2025 (GLOBE NEWSWIRE) -- Nano Dimension, a digital manufacturing leader, today announced the completion of its acquisition of Desktop Metal, Inc. (NYSE: DM) ("Desktop Metal"), establishing a global leader in innovative disruptive systems, software, and materials for high-value, high-performance electronics, mechanical, and medical applications. The transaction, valued at $179.3 million or $5.295 per share, was finalized following receipt of all necessary regulatory approvals and satisfaction of customary closing conditions.

The combined company
The combined company is expected to have annual revenue for the year ended December 31, 2024 of over $200 million, based on preliminary and unaudited full year 2024 results.
The expanded enterprise will have global operations designing and delivering a complementary portfolio of advanced manufacturing solutions, including capital equipment, materials, and software, for design-to-manufacturing of sophisticated electronics, mechanical, and medical applications.

The expanded diverse customer base will include Fortune 500 companies and industry leaders across aerospace & defense, automotive, consumer, electronics, industrial automation, medical technology, along with research & development, academic, and government organizations.

New leadership to execute a strategic financial transformation
This acquisition was completed under the stewardship of a new board of directors and management team from when the merger agreement was signed in July 2024. This refreshed group is concentrated on addressing the realities of a combined company with an unwavering focus on establishing a sustainable business model.

The management team of Nano Dimension is committed to generating substantial shareholder returns, attracting top industry talent, and serving as a trusted innovation partner for global customers.

Since Nano Dimension's new leadership assumed responsibility in December 2024, Nano Dimension has been undergoing a strategic review and has undertaken notable improvements in its operating model to reduce expenses of the core business. Building on these early successes, the leadership team will now expand these optimization initiatives across the combined organization with increased scope and urgency.

The new leadership's accelerated transformation plan centers on:
• Maintaining Financial Strength: Ensure a robust capital base.
• Driving Profitable Growth: Focus on products and services where there is innovative technology with a growth outlook that can deliver financial results.
• Growing Margins: Achieve economic efficiencies in manufacturing, operations, supply chains and information systems.
• Building Indispensable Customer Partnerships: Deliver solutions that make Nano Dimension a critical manufacturing partner.

Mr. Ofir Baharav, Chairman of the board of directors of Nano Dimension, commented: "The completion of the Desktop Metal acquisition represents a significant opportunity. We are excited about the ability to offer leading customers more innovative technologies. Our new leadership group is squarely focused on implementing necessary measures to achieve a sustainable business model that will allow us to successfully create value for all stakeholders. We will make clear-eyed, objective assessments of our combined operations, identifying immediate cost synergies, and strategically realigning resources toward our highest-potential product lines.
Our commitment to shareholders is straightforward: disciplined capital management, prioritization of resources to areas that will drive meaningful returns, aggressive margin improvement through operational efficiencies, and a relentless focus on building the customer relationships that will sustain our business for the long term."

Nano Dimension will provide additional details regarding integration plans and financial outlook for the combined company following a comprehensive strategic review. Nano Dimension will also address potential synergies with its pending merger with Markforged Holding Corporation (NYSE: MKFG) ("Markforged") in future communications.

About Nano Dimension
Driven by strong trends in onshoring, national security, and increasing product customization, Nano Dimension (Nasdaq: NNDM) delivers advanced Digital Manufacturing technologies to the defense, aerospace, automotive, electronics, and medical devices industries, enabling rapid deployment of high-mix, low-volume production with IP security and sustainable manufacturing practices.

For more information, please visit https://www.nano-di.com/.