Cambridge-based Global Inkjet Systems (GIS) has been bought-out by Nano Dimension, a company that provides digital production technologies for additive manufacturing and 3D printed electronics that meet Industry 4.0 fabrication demands. The expectation is that the combined expertise of Nano and GIS will enable faster product development.
Nano paid $18.1m cash for the GIS acquisition, and will pay $1.3m - $10.7m more within the next 27 months if GIS meets certain financial performance targets over the period.
GIS had a revenue for the 12 months ended March 31, 2021, of approximately $10m and a gross margin of 51%. The company, founded in 2006, is known for inventing and delivering 2D and 3D printing inkjet hardware and operating software. It has more than 130 customers around the world with a focus on high-value, precision-oriented applications such as specialised direct-to-container packaging, printed electronics functional fluids, and 3D printing, which can all be controlled by the proprietary software system - Atlas.
“GIS’ ink delivery technology and software are essential to any ink deposition methodology within our AME and AM solutions. GIS’ research and development roadmap will help us to deliver better resolution and higher productivity in our industrial 3D printing solutions,” said Yoav Stern, chairman and CEO of Nano Dimension. “As a result of this acquisition, we will be able to improve our technology’s performance and time to market. The combined company will own and have access to innovative and yet-to-be-released printing technologies, providing value and leading-edge solutions tailored to our customers’ needs and giving us a clear competitive advantage.”
GIS will continue to develop and sell its hardware and software globally while taking advantage of Nano Dimension’s resources and reach. Emerging AM market segments especially rely on GIS’ level of precision that enables advanced industrial applications. In parallel, the merger will provide Nano Dimension with exposure to new market segments and application areas.
“We are very excited to be joining a company that recognises the excellence of our technologies, our passion for innovation and matches our customer-focused culture,” said Nick Geddes, founder and CEO of GIS. “Working together, we will be pushing the envelope beyond existing printing capabilities in ways our customers will gain advantages that are unmatched yet.”