SUNRISE, FL – Nano Dimension has signed and closed a definitive agreement to acquire Essemtec.

Nano Dimension will pay Essemtec shareholders a total sum, in cash, ranging between $15.1 million to $24.8 million; $15.1 million will be paid upon closing.

An additional amount of up to $9.7 million will be paid over 14 months based on pre-agreed performance-based formulas.

Essemtec posted 2020 revenue of $17.2 million. Revenue for the eight months ended Aug. 31 was $15.4 million. Backlog as of Sept. 17 was approximately $6.9 million.

“It is an exciting combination of two leading technology leaders serving the PCB and wider electronic industry segments,” said Franz-Xaver Strueby, CEO, Essemtec. “The combination of Nano Dimension’s strength in the Americas with Essemtec’s strong presence in Europe will enhance both product lines.  Additionally, I believe the merger of the technologies will yield enormous influence and transformational momentum in the world of 3-D printed electronics and assembly. The Essemtec team, as well as me personally, are looking forward to continuing our journey as part of the combined teams of Essemtec and Nano Dimension.”

“Essemtec’s scientists and engineers and other team members, all of whom joined Nano Dimension upon closing of this transaction, are leading experts and industry veterans in machine building, software, mechanical automation, and robotics,” said Yoav Stern, chairman and CEO, Nano Dimension. “They are going to continue to be led by their present management crew, supported by Ziki Peled, COO of Nano Dimension.

“Essemtec’s present products fit Nano Dimension’s PCB and PCB assembly markets, as well as the original equipment manufacturers’ verticals which we serve. As such, we hope to leverage the distribution channels and go-to-market efforts of both organizations. In parallel, our mutual vision is to merge the technologies of our micro-electronic 3-D-fabrication machines for Hi-PEDs (hi-performance electronic devices) with Essemtec’s fuller suite of in-fabrication-process-equipment-assembly capabilities.

“No less important is our intention to use our newly acquired deep-learning-based artificial intelligence technologies from our DeepCube acquisition to become the robotic brains for Essemtec systems. We expect this will improve yield and throughput and drive a more seamless integration with Nano Dimension’s AME systems. Essemtec’s machines fit the larger picture of Nano Dimension’s vision, aiming to establish Industry 4.0 solutions, which entail building an artificial intelligence distributed digital manufacturing application, rather than just machines as capital equipment. The end goal is to reach a capability for maintaining an inventory of high-end PCB devices, micro-mechanical parts and Hi-PEDs in digital form. Print and assemble them as you need them, where you need them, only the quantity you need, in the best quality at competitive prices, as it is done in highest yield and throughput possible for that point in time, specifically in high-mix/low-volume scenarios.”