12:02 PM EDT, 09/25/2024 (MT Newswires) -- (Updates with additional details and the latest stock movement.)

Nano Dimension ( NNDM ) agreed to acquire Markforged Holding ( MKFG/WS ) in an all-cash deal for $5 per share with a total value of $115 million, the companies said Wednesday.

The merger, approved by both companies' boards, is expected to close in Q1 2025, subject to regulatory approvals and stockholder consent, the companies said.

The combined company will leverage Markforged's ( MKFG/WS ) installed base of over 15,000 systems across diverse industry verticals, enhancing their digital manufacturing capabilities, they added.

The acquisition complements Nano Dimension's ( NNDM ) earlier acquisition of Desktop Metal, creating a stronger position in additive manufacturing, especially in metal-AM with an expanded product portfolio, including fused filament fabrication for high-performance applications, according to the joint statement.

Nano Dimension ( NNDM ) will use its cash reserves to finance the transaction, with a projected post-merger cash balance of $475 million, including marketable securities, the companies added.

Markforged ( MKFG/WS ) shares were 69% higher in recent trading, while Nano Dimension ( NNDM ) was 6% higher.

Price: 2.35, Change: +0.14, Percent Change: +6.33