WALTHAM, MA – Nano Dimension Ltd. (Nasdaq: NNDM, “Nano Dimension” or the “Company”), a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers, highlighted today the strength of its leadership team’s vision and experience, which includes eight former CEOs and founders, as well as leaders who have held a combined approximately 30 positions as CEOs, Presidents, General Managers and/or Chairmen over the last 30 years.
The management team represents a deep bench of top-caliber leadership with a long track record of driving value creation through over 80 M&A transactions, further highlighting why Nano Dimension is the right partner for Stratasys Ltd. (Nasdaq: SSYS) (“Stratasys”).
Nano Dimension has the right offer, the right plan, and the right leadership to deliver value to Stratasys shareholders;
Nano’s $18 per share all-cash special tender offer delivers to Stratasys shareholders near-term, GUARANTEED cash value at a compelling premium. The successful completion of the special tender offer would increase Nano Dimension’s beneficial ownership of Stratasys to between 53% and 55% of the outstanding ordinary shares of Stratasys, inclusive of the approximately 14.1% of Stratasys’ outstanding ordinary shares that Nano Dimension currently owns.
Nano’s increased ownership, combined with its plans to replace the majority of Stratasys’ entrenched Board of Directors, provides a clear path to fix Stratasys, by driving improved profitability and preventing the ill-conceived and dilutive transaction with Desktop Metal Inc. (NYSE:DM) (“DM”) that presents significant uncertainty and tremendous risk of depletion of all cash, as both Stratasys and DM continue to lose cash on a quarterly basis.
Nano is confident that its seasoned management team and strong growth strategy will deliver long-term value to Stratasys shareholders.
Nano’s leadership team includes eight former CEOs and founders, as well as leaders who have held approximately 30 positions as CEO, President, General Manager and/or Chairman over the last 30 years. These leaders have extensive management expertise and a proven track record of successfully growing technology companies and driving value creation. Of particular note:
Nano’s Chairman and CEO, Yoav Stern, has built and led over 6 companies, most of them U.S. public companies, some of which he has grown from single-digit million-dollar revenue companies, to companies generating hundreds of millions of dollars in annual revenue through both organic and inorganic growth strategies. In addition, Mr. Stern has also generated exits for investors at a ROI ranging from 2-3 times the initial investment over 1-2 years.
Nano’s President, Zivi Nedivi, has served as the CEO of 5 companies and founder of 2 others, including U.S. and foreign companies, public and private. As CEO of an aviation supply chain company, Mr. Nedivi oversaw revenue growth from $8 million to $300 million in a five-year period, including nine acquisitions. As COO of a medical laser company, Mr. Nedivi managed thousands of employees across five continents.
Nano’s Chief Product Officer & Head of M&A, Hanan Gino, has served as CEO of a multimillion-dollar cybersecurity company and as the head of the commercial divisions of an $800 million electronics optical inspection business. Mr. Gino also brings prodigious experience in robotics, artificial intelligence, and automation.
Nano’s President of Americas, Dale Baker, has led 5 companies, 3 of them public, and oversaw the growth of hundreds of millions of dollars in revenue, in addition to spending many years as a senior executive at General Electric.
The Nano team’s wealth of leadership experience has allowed the Company to maintain innovative and nimble operations, and is poised to drive growth and operational excellence, specifically focusing on Stratasys, as it is expected to become the main business asset of Nano Dimension.
Nano’s management has successfully integrated 6 companies in 18 months and harnessed M&A synergies to drive value and growth in revenue, gross margins, and profits, in addition to organic growth initiatives:
Through seamless integration, Nano’s team of best-in-class executives and managers has consistently unlocked the potential of acquired companies by leveraging its strategic footprint and platform.
Overall, companies acquired by Nano have outgrown and outpaced peers in the Additive Manufacturing Industry.
Nano’s ambitious and focused M&A strategy, combined with strong organic growth, are expected to continue to drive future value creation:
Nano’s management was decisive and forward-thinking, taking advantage of the low cost of capital and strong market appetite to raise $1.5 billion in equity financing and subsequently maintain acquisition discipline, while preserving approximately $1.1 billion of cash, bank deposits, and investment in securities as long as prices of acquisitions in the market were grossly overvalued during 2021-2022.
Nano has the cash firepower to continue to build its business – unlike any of its peers – and is executing on a multi-pronged and synergistic growth strategy buoyed by its strong fundamentals.
Nano continues to see significant opportunities ahead and is ideally positioned to act as a consolidator in the highly fragmented market landscape with numerous attractive potential targets.
Nano’s revenue is expected to continue to increase, having more than tripled from 2020 to 2021, and grown more than 12x in 2022 compared to 2020 – proof of the success of Nano’s “buy and build” platform scaling strategy.
Nano’s differentiated technology offerings are supported by next-generation digital manufacturing and AM technologies. The Company’s fast adoption of groundbreaking Deep Learning and AI technologies led by Nano’s DeepCube division are gradually installed in Nano’s 3D Printing Machines, in addition to seeing strong demand from industrial customers keen to install it in their own machines. Hence, Nano is investing resources to support this business and position it to succeed as a new, standalone division independently generating revenue.
Learn more about Nano Dimension, its strategy and vision, including its special tender offer for Stratasys at www.stratasysvaluenow.com
FONTENAY-AUX-ROSES, FRANCE – ICAPE Group (ISIN code: FR001400A3Q3 - Ticker: ALICA), a global technology distributor of printed circuit boards ("PCB"), today announced the evolution of its governance.
In agreement with the Board of Directors, Cyril Calvignac, ICAPE Group’s Chief Executive Officer, today submitted his resignation from his position as Chief Executive Officer and Board member. Yann Duigou, the Group's current Chief Marketing Officer, will succeed him as Chief Executive Officer. Before pursuing a new professional project, and in the interests of good governance, Cyril Calvignac will continue to support the Group until the end of 2023 to ensure this transition.
Yann Duigou, aged of 61, current Chief Marketing Officer and Board member, brings over thirty years' experience in the electronics and PCB industry. Before joining the ICAPE Group in 2017 as Director in charge of e-commerce, he held various executive positions within the CIRE electronics group. He was notably Factory Director and then Managing Director for ten years, from 2002 to 2012. Yann Duigou is a graduate of the Institut Supérieur de Gestion (ISG Paris).
The Board of Directors warmly thanks Cyril Calvignac for his vision, commitment and action at the service of the Group since 2003, for which he notably led the IPO to a successful conclusion, and wishes him every success in his future projects.
In addition, the Board of Directors decided to strengthen the Group’s Executive Management with the appointment of two new Deputy CEO, namely Arnaud Le Coguic, who becomes Chief Financial Officer of the Group, and Bingling Li Sellam, who replaces Yann Duigou as Chief Marketing Officer. Shora Rokni sees her scope extended as Chief Strategy and M&A Officer. ICAPE Group's Executive Management is thus composed of a Chief Executive Officer, supported by five Deputy CEO.
The Group's Board of Directors also evolved with the appointment by cooptation of Mr. Thomas Chea as Board member, replacing Mr. Calvignac. This appointment will be subject to ratification by the next Annual General Meeting. Arthur Mendes and Bingling Li Sellam also join the Group's Board of Directors as censors for a 3-year term.
Thierry BALLENGHIEN, ICAPE Group’s Founder and Chairman of the Board of Directors, stated: "I would like to offer my warmest thanks to Cyril Calvignac for the commitment he has demonstrated daily since joining our Group. Over the past 20 years, he climbed the Group's ladder by my side, one by one, and supported its structuring at the highest level, with its IPO as a major achievement. Yann has my full confidence to pursue the ambitious objectives we set ourselves within the framework of our IPO, and I am sure that his experience and expertise will be major assets to reinforce our trajectory of strong profitable growth. The experienced management team currently in place, composed of experts in the PCB industry, also has my full confidence to successfully lead the Group's future development."
Yann DUIGOU, ICAPE Group’s Chief Marketing Officer, added: "I am particularly proud of the opportunity given to me today to become Chief Executive Officer, and I would like to warmly thank Thierry Ballenghien for the confidence he placed in me. Thanks to our many assets and the strengthening of our governance, I am convinced that the offensive strategy we are deploying today will consolidate our position as a key player in printed circuit board distribution."
WALTHAM, MA – Nano Dimension Ltd. (Nasdaq: NNDM) (“Nano Dimension”, “Nano” or the “Company”), a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers, today released a video in which Yoav Stern, Chairman and Chief Executive Officer of the Company, addresses Stratasys Ltd. (Nasdaq: SSYS) (“Stratasys”) shareholders, highlighting the advantages of its special tender offer over Stratasys’ merger with Desktop Metal Inc. (NYSE: DM) (“Desktop Metal”) and the unsolicited proposal from 3D Systems Corp. (NYSE: DDD) (“3D Systems”).
In the video, Mr. Stern reiterates the following compelling points regarding Nano Dimension’s special tender offer:
Nano offers the certainty of cash versus uncertainty of dilution.
Nano’s $18.00 per share special tender offer delivers certain, near-term premium and all-cash value to Stratasys shareholders.
Nano’s offer provides more certainty than the Desktop Metal merger or the 3D Systems unsolicited proposal. With approximately $1 billion in cash and cash equivalents, Nano has the financial capacity to complete the special tender offer, which is not subject to Nano shareholders’ approval.
Nano has a clear vision and path to establish a market leader in Additive Manufacturing and deliver strong bottom-line results for shareholders.
Nano will focus on gross margins, EBITDA and earnings-per-share profitability to create lasting value for Stratasys’ shareholders.
In contrast, Stratasys management continues to make empty promises of becoming “a billion-dollar company,” only to deliver further cash burn and value destruction.
Change within Stratasys is needed NOW. Stratasys needs better leadership, operators and decision-makers that will optimize the business to realize its potential.
Nano has demanded that the Stratasys Board call an Extraordinary General Meeting for the purpose of removing a majority of the Stratasys Board of Directors and replacing them with highly qualified nominees proposed by Nano.
Nano believes such action is vital to prevent further value destruction.
All of the information related to the special tender offer, including the benefits of the special tender offer to Stratasys’ shareholders and the strategic rationale for the special tender offer, can be found on the dedicated website, at http://www.stratasysvaluenow.com
For information on how to tender, please contact Georgeson toll-free at (877) 668-1646.
Nano Dimension has filed with the SEC a tender offer statement on Schedule TO, including an offer to purchase, which provides the terms and conditions of the special tender offer. The special tender offer will expire at 11:59 p.m. EDT on Monday, June 26, 2023, unless extended or earlier terminated in accordance with the offer to purchase and the applicable rules and regulations of the SEC and Israeli law. The closing of the special tender offer is subject to certain conditions, including that at least 5% of the issued and outstanding Stratasys shares are validly tendered and not properly withdrawn, at least 53% of the issued and outstanding Stratasys shares when aggregated with the Stratasys shares held by Nano are validly tendered and not properly withdrawn, and the Stratasys Board redeems its Rights Plan, dated July 25, 2022 and any Rights that may be issued and outstanding thereunder or Nano being satisfied in its sole discretion that the Rights will not become exercisable as a result of the tender offer, as described in the tender offer materials, including the offer to purchase, a related letter of transmittal and other tender offer documents.
MILPITAS, CA – Global semiconductor materials market revenue grew 8.9% to $72.7 billion in 2022, surpassing the previous market high of $66.8 billion set in 2021, SEMI, the global industry association representing the electronics manufacturing and design supply chain, reported today in its Materials Market Data Subscription (MMDS).
Wafer fabrication materials and packaging materials revenue in 2022 reached $44.7 billion and $28.0 billion, respectively, increasing 10.5% and 6.3%. The silicon, electronic gases, and photomask segments showed the strongest growth in the wafer fabrication materials market, while the organic substrates segment largely drove packaging materials market growth.
For the 13th consecutive year, Taiwan, at $20.1 billion, was the world's largest consumer of semiconductor materials on the strength of its foundry capacity and advanced packaging base. China continued to register strong year-over-year results, ranking second in 2022, while Korea finished as the third largest consumer of semiconductor materials. Most regions registered high single- or double-digit growth last year.
Note: Summed subtotals may not equal the total due to rounding. * Rest of World includes Singapore, Malaysia, Philippines, other areas of Southeast Asia and smaller global markets. ** 2021 data reflects current updates.
The Materials Market Data Subscription (MMDS) from SEMI provides annual revenue with 10 years of historical data and a two-year forecast. The annual subscription includes quarterly updates for the materials segment and reports revenue for seven market regions (North America, Europe, Japan, Taiwan, South Korea, China and Rest of World). The report also features detailed historical data for silicon shipments and revenues for photoresist, photoresist ancillaries, process gases and lead frames.
For more information about the report or to subscribe, please contact the SEMI Market Intelligence Team at This email address is being protected from spambots. You need JavaScript enabled to view it.. More details are also available on the SEMI Market Data webpage.
MILPITAS, CA – Global 300mm fab equipment spending for front-end facilities next year is expected to begin a growth streak to a US$119 billion record high in 2026 following a decline in 2023, SEMI highlighted today in its quarterly 300mm Fab Outlook Report to 2026. Strong demand for high-performance computing, automotive applications and improved demand for memory will fuel double-digit spending in equipment investments over the three-year period.
After the projected 18% drop to US$74 billion this year, global 300mm fab equipment spending is forecast to rise 12% to $US82 billion in 2024, 24% to US$101.9 billion in 2025 and 17% to US$118.8 billion in 2026.
“The projected equipment spending growth wave underscores the strong secular demand for semiconductors,” said Ajit Manocha, SEMI President and CEO. “The foundry and memory sectors will figure prominently in this expansion, pointing to demand for chips across a wide breadth of end markets and applications.”
Regional Growth
Korea is expected to lead global 300mm fab equipment spending in 2026 with US$30.2 billion in investments, nearly doubling from US$15.7 billion in 2023. Taiwan is forecast to invest US$23.8 billion in 2026, up from US$22.4 billion this year, and China is projected to log US$16.1 billion in spending in 2026, an increase from US$14.9 billion in 2023. Americas equipment spending is expected to nearly double from US$9.6 billion this year to US$18.8 billion in 2026.
Segment Growth
Foundry is projected to lead other segments in equipment spending at US$62.1 billion in 2026, an increase from US$44.6 billion in 2023, followed by memory at US$42.9 billion, a 170% increase from 2023. Analog spending is forecast to increase from US$5 billion this year to US$6.2 billion in 2026. The microprocessor/microcontroller, discrete (mainly power devices), and optoelectronics segments are expected to see spending declines in 2026, while investments in logic is forecast to rise.
The SEMI 300mm Fab Outlook Report To 2026 report lists 369 facilities and lines globally, including 53 high-probability facilities expected to start operation during the four years starting in 2023.
LEUVEN, BELGIUM – At this week’s International Microwave Symposium, imec – a world-leading research and innovation hub in nanoelectronics and digital technologies, and AT&S – a leading manufacturer of high-end printed circuit boards (PCBs) and IC substrates, present a major step towards realizing a novel system integration approach, whereby D-Band chips and waveguides are integrated into low-cost, mass-manufacturable PCBs. This new approach paves the way for the development of compact, cost-effective, and high-performance 140 GHz (automotive) radar and 6G mobile communications systems, offering significantly lower signal loss in comparison to planar PCB lines or substrate-integrated waveguides (SIWs) in PCBs and interposers.
The need for higher bandwidths in applications such as automotive radar and upcoming 6G mobile networks is fueling the demand for higher radio frequencies. This is why the D-Band, spanning from 110 to 170 GHz, garners significant attention.
But tapping into these frequencies poses challenges, such as increased system complexity and signal attenuation. Hollow air-filled substrate-integrated waveguide (AFSIW) technology with fully metalized sidewalls offers significantly reduced signal loss compared to substrate-integrated waveguides (SIWs) that use rows of vias and the planar interconnect technology used in current communication and radar systems. Despite this intrinsic benefit, a mass-production approach for PCBs with integrated AFSIW waveguides is currently unavailable.
The world's first implementation of D-Band AFSIWs in a low-cost, mass-manufacturable PCB – coming with a five-fold loss reduction
“To facilitate the next generation of cost-effective, high-performance radar and communication systems, millimeter-wave front-end systems that can operate at frequencies exceeding 100 GHz are necessary. However, a key concern is how these antennas and millimeter-wave ICs can be optimally connected. We believe a key part of the solution is to utilize AFSIW technology. Unfortunately, such waveguides are expensive and hard to integrate into multi-layer PCBs or interposers. Imec and AT&S have partnered to address this challenge. Together we demonstrate an integrated front-end combining imec’s 140 GHz radar ICs in combination with a novel packaging/module concept developed by AT&S. The demonstration of PCB-integrated AFSIWs is an important breakthrough towards achieving this end goal,” said Ilja Ocket, program manager at imec.
As part of an advanced system module concept, AT&S and imec have collaborated to develop D-Band AFSIWs with solid copper sidewalls integrated into a multi-layer PCB to prevent signal leakage and to form arbitrarily shaped air cavities. It is the first successful demonstration of an AFSIW operating above 100 GHz, and integrated into a low-cost, mass-manufacturable PCB. By eliminating dielectric losses, so that only conductor losses remain, the new approach achieves a loss of 0.07 to 0.08dB/mm across the 115 to 155 GHz frequency range, translating into a five-fold reduction compared to reported planar PCB lines or SIWs in PCBs and interposers. These impressive results only represent a first step, as further improvements will continue to drive down losses even further in the coming years.
From enhanced awareness in automotive to 6G networks
“Imec’s 140 GHz radar chips and packaging design expertise have given us a significant head start. We believe that our new packaging approach can be utilized to create efficient, compact, and high-resolution 140 GHz radar modules for automotive applications, creating vehicles that are increasingly ‘aware’ of what is happening, both in-cabin and around them,” said Erich Schlaffer, program manager R&D Electronics Solution at AT&S. “Additionally, this technology will find its way in 6G mobile networks.”
