Nano Dimension acquires Formatec Holding for $12.9M
Jul. 08, 2022 8:47 AM ETNano Dimension Ltd. (NNDM)By: Pranav Ghumatkar, SA News Editor2 Comments
- Nano Dimension (NASDAQ:NNDM) has signed a definitive agreement to acquire Formatec Holding, which includes its two subsidiaries - Admatec Europe and Formatec Technical Ceramics.
- Admatec/Formatec has shown promising financial results under strenuous circumstances of its parent company, indicating that accelerated growth based on its innovative technology can be expected.
- The business delivered $5.3M in revenue with a gross margin of 56% in 2021.
- Nano Dimension has paid a total cash sum of $12.9M for Admatec/Formatec.
- “Admatec/Formatec’s products and services expand Nano Dimension’s Fabrica Division, adding volume manufacturing capabilities to the high precision micro-mechanical Fabrica 2.0 systems.” said Yoav Stern, Chairman and CEO.