Update: Stratasys Rejects Nano Dimension’s Acquisition Offer

Stratasys Board reject offer, citing desire to remain independent

Stratasys Board rejects Nano Dimension's acquisition offer, citing the desire to remain independent

Stratasys board rejected Nano Dimension’s unsolicited offer. Image courtesy of Nano Dimensions

Nano Dimension's plan to acquire Stratasys has stalled. This week, Stratasys said its board has “unanimously rejected the unsolicited proposal.”

In an announcement, the company states, “Stratasys’ Board and management team are confident that the Company’s standalone plan will create significantly greater value for its shareholders than the Nano proposal. Stratasys recently delivered its sixth consecutive quarter of profitability on an adjusted basis despite a challenging economic environment, and the Company remains laser focused on executing its strategy and managing its operations to effectively deliver sustained, profitable growth.”

Responding to the Stratasys board's decision, Nano Dimension CEO Yoav Stern said, “We are disappointed in Stratasys’ refusal to engage with Nano Dimension regarding our compelling offer ... After constructive discussions with Stratasys’ CEO, we were surprised that the Stratasys Board was unwilling to engage in an open dialogue around a combination of our businesses. While we remain open to discussions, we are disciplined with regards to our growth strategy and will consider our options, relative to both Stratasys and alternative strategic acquisition targets currently under review.”


Nano Dimension, a 14.5% stakeholder of Stratasys, offered to acquire the remaining Stratasys shares at $18 per share. After the offer became public, Stern released a series of videos addressing the acquisition offer. The transaction, he argued, would be “the formation of a strategic investment in a market-leader.” 

One key justification for the merger, he pointed out, was the possibility to combine Nano Dimension's technologies and Stratasys's polymer-focused business, covering a wider range of applications. “Their technology got older over time ... and they continued to buy companies with only polymer machines, Nowadays, in order to go into production, companies need AM with metal and ceremics ... We have ceremics, metal, and electronics machines. The combination of the two companies will be amazing, because we're going to bring in the growth engine,” he argued.

According to the Additive Manufacturing (AM) industry watcher Wohlers Associates, the industry grew “19.5% in 2021, up from 7.5% growth in 2020, which was impacted greatly by the pandemic.” Terry Wohlers, founder of Wohlers Associates, said, “If the [Nano Dimension-Stratasys] deal goes through, it could go down as one of the largest and most unexpected acquisitions in the AM industry.”

Stratasys, founded in 1989, and its rival 3D Systems, founded in 1986, are considered two AM powerhouses. If the acquisition had gone through, Wohlers said, “Nano Dimension would quickly rise close to the top” of market leaders.

More Stratasys Coverage

Stratasys Company Profile

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Kenneth Wong

Kenneth Wong is Digital Engineering’s resident blogger and senior editor. Email him at [email protected] or share your thoughts on this article at digitaleng.news/facebook.

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