EnvisionTEC is getting acquired by Desktop Metal for a combined 300 million in cash value. Al Siblani will still remain as CEO of EnvisionTEC and he believes that this merger will further allow both businesses to scale to new heights. EnvisionTEC has a wide array of customers in many different industries which will allow for DesktopMetal to bring their services to more clients. Customers of both companies will benefit according to Al Siblani, who remains very optimistic.
Key Takeaways:
- Desktop Metal Inc. is expected to pay 300 million dollars in total value to acquire EnvisionTEC.
- Al Siblani will continue to be the CEO of EnvsisionTEC after they are acquired.
- Siblani believes that by combining the talents of both companies that they will be able to scale.
“EnvisionTEC has more than 5,000 customers across a broad range of industries, including medical devices, jewelry, automotive, aerospace, and biofabrication.”
