Desktop Metal buys fellow 3D printing company EnvisionTEC for $300M

Desktop Metal this morning announced its intention to purchase fellow 3D printing company EnvisionTEC. Founded in Germany in 2002, EnvisionTEC specializes in photopolymer additive manufacturing, putting its technology in more direct competition with the likes of 3D printing darling Carbon than Desktop Metal’s own existing portfolio.
The deal follows Desktop Metal’s push to go public last August as part of a growing trend of SPAC mergers. Prior to this, the company had raised no shortage of its own funds, with a rapid ascent into unicorn status on the wake of $430 million in investments. It’s spending $300 million to acquire EnvisionTEC through a combination of cash and stock.
There’s a lot of potential for Desktop Metal to grow here. EnvisionTEC has the underlying technology with the ability to print in more than 190 materials, and Desktop Metal has the resources to help scale that tech beyond what the German company has been able to build thus far.