Markforged to expand into mass production of end-use metal parts

The addition of Digital Metal reinforces Markforged’s strategy to solve manufacturing problems for industrial customers where they are needed. With this new offering, manufacturers have the ability to produce large volumes of functional metal parts with minimal setup required. Traditional production often takes months to transition from design to manufacturing, introduces third-party vendor risk, and offers poor unit economics during ramp-up and in lower volumes.

“With the acquisition of Digital Metal, Markforged is advancing our vision of distributed manufacturing by enabling the reliable, high-volume production of precise metal parts at the point of need. The integration of Digital Metal’s solution into the platform Digital Forge allows us to address new applications in the medical, automotive, luxury and other industries,” said Shai Terem, President and CEO of Markforged. “The Digital Metal team has created a robust and scalable solution that complements our existing technologies. I look forward to welcoming their talents to Markforged.”

Founded in 2003, Digital Metal is a wholly owned subsidiary of Höganäs AB and the creator of proprietary AM binder jetting technology. Known for their high productivity, excellent surface quality and superior resolution, Digital Metal Printers have been used to produce hundreds of thousands of parts, including parts for consumer product leaders, universities and industry automobile. Markforged sees significant opportunities to further accelerate the adoption of Digital Metal through integrated software capabilities and a global go-to-market engine.

“Markforged’s easy-to-use platform, best-in-class software capabilities, and hardware expertise seemed like a natural fit for the future of our technology,” said Christian Lönne, CEO of Digital Metal. “With Markforged’s experience and scale to market, we are confident that we will be able to grow our technology together and help more manufacturers produce the high-volume metal parts they need. needed to conduct highly productive and profitable operations.”

As part of the transaction, Markforged will pay Höganäs approximately $32 million in cash, approximately 4.1 million shares of Markforged common stock and approximately $1.5 million in cash to settle certain intercompany balances, subject to certain adjustments. The acquisition of Digital Metal is expected to close during the third quarter of 2022, subject to customary conditions.

About Digital Metal

About Markforged

Markforged (NYSE: MKFG) is reinventing the way humans build while leading a technological transformation of manufacturing with solutions for businesses and societies around the world. Markforged Digital Forge brings the power and speed of agile software development to industrial manufacturing, combining hardware, software and materials to solve supply chain problems at the point of need. Engineers, designers, and manufacturing professionals around the world rely on Markforged metal and composite printers for high-value tooling, fixtures, functional prototyping, and end-use production. Markforged is headquartered in Watertown, Massachusetts, where it designs its products with more than 400 employees worldwide. To learn more, visit www.markforged.com .

Source: Spark PR

Top Image: Markforged