Nano Dimension has sold its Additively Manufactured Electronics business to Inspira. The sale ¨includes intellectual property, proprietary high-precision 3D electronic printing systems, patented software, engineering know-how, manufacturing equipment, inventory, customer-related assets, and fully equipped facilities, including physics and chemistry laboratories and an ink manufacturing plant.Inspira has assumed control of the acquired assets and operations effective immediately.¨ Inspira is paying $2 million now and may pay another $10.5 million in deferred performance related fees over the next year.The AME business is the core of the Nano Dimension offering and includes the Dragon Fly 3D printer, the Conductive Ink Dielectric Ink and other ink formulations, the dielectric and other polymer build materials, including all the software and the Fabrica product line.
This means that Nano Dimension currently consists of the Essemtec SMT equipment, the Global Inkjet Systems inkjet business, holdings in MarkForged and binder jet firm Digital Metal.Inspira is a firm that makes ECMO equipment for oxygenation, especially in bypass and other surgical procedures.The firm also makes blood sensors.
That medical division will be moved to a subsidiary.Inspira CEO Dagi Ben-Noon stated, “From my in-depth knowledge of the AME technology, this acquisition gives Inspira immediate control over a highly specialized advanced-manufacturing platform with proven infrastructure, engineering depth and production capabilities already in place.These assets can now be directed toward high-value applications that align with the next stage of the Company’s strategy.” Nano Dimension CEO David Stehlin said, “Today’s announcement marks the first of a series of steps to maximize shareholder value and builds on the cost reduction actions initiated in the third quarter of 2025.
The sale of the AME and Fabrica product lines will lower our operating costs and cash burn while reinforcing financial flexibility, and the deferred consideration structure allows us to participate in potential upside as the product lines perform under Inspira’s ownership.” Is this a good deal for Inspira? It’s a bit of a leap to consider this an obvious deal for the medical device firm.DragonFly and 3D Printing technology is very complementary for ECMO.For ECMO thin walled, precision hole barrier systems are the key differentiator.
The company could very well use Additive Electronics to make these better than others.At the same time it could leverage the business to make more electronic sensors for in the body.The obvious thing for them to do here is to become a platform for other firms to develop their technology on.
You could use a DragonFly into the lab and then scale it with their services and infrastructure to make electronic biological hybrid medical devices.These could be small, well integrated and conformal.Another option would be to do something similar and be a kind of a Amnovis, Tangible Solutions, kind of business.
Someone could walk in the door with an invention and you could commercialize it completely.Each of these paths look potentially viable.Having said that, the extremely low purchase price here may have just made this an irresistible deal for them.
If they ever sell a dozen systems it will make sense.Even if they would be planning on themselves buying a lot of systems the discount would also make this useful for them.What about for Nano Dimension? The deal is an absolute steal.
Fabrica itself was acquired for $54 million in 2021 while theoretically the development of the technology was aided by subsequent investments.The other part of the AME platform is the core Nano Dimension technology which again was worth over a $1 billion at one point.It however looks ever more likely that Fabrica was a lot of the underpinnings of the Nano Dimension technology later on.
Given that and Nano´s leading position in Additively Manufactured electronics, this looks like a cheap deal for Inspira.It is to me unclear what Nano Dimension wants to do now, unless they completely want to strip the company of all assets and return cash to investors.Or perhaps they could focus only on inkjet? This seems strange and a path to returning all the cash to investors seems more likely.
Even then this seems like a particularly low price for Inspira.With reshoring a company focusing on SMT, inkjet systems and reshoring manufacturing could make a lot of sense.But, then I would have always kept the AME business.
What about Markforged and Digital Metal? The parts not sold (inkjet and SMT business) make more sense as a unit with the AME business than the rest of Nano Dimension does.So it should be clear now to all that Markforged and Digital Metal are for sale.If you took Margforged and turned it into the US based ruggedized 3D printer manufacturer for energy & defense the business could grow.
Through doing Material Extrusion well, through making bound ceramics and metal components for defense and through maybe adding more direct write there could be a booming business to be had.If the firm then leveraged its software to become a workflow for the individual warfighter it could really grow to be good business.The P100 metal binder jet system from Markforged via its Digital Metal acquisition.
Image courtesy of Markforged.Defense spending on Additive is set to boom and exigent, austere or point of need manufacturing is set to boom as well.You´d have the formidable Prusa Research to contend with, they now make systems in the US, but there would be a lucrative, albeit limited space, for the two of you and then some.
As for Digital Metal, their binder jet technology centers around a high value machine.But, the results are unparalleled with high volume production being done on these systems for decades now.If they were selling this asset then heck, I´d buy it at these prices.
The combination with the MarkForged business still makes sense if they leverage their defense approach together and offer parts at scale there.What about DeepCube & AdditiveFlow? It’s hard to think of products that were as prescient as DeepCube and AdditiveFlow.Deep learning for manufacturing is something that you can currently raise tens of millions for.
DeepCube´s $70 million acquisition price would be more than covered if a kind of AI for manufacturing product emerged.The company came up with locally running neural networks at the edge.The company had a brain in a box, automated model training and an inference engine for the edge as well as machine sensor monitoring.
Give the right someone PowerPoint and that now and you can walk out of the meeting with a $300m valuation and $10 million.Acquired in 2021 that company was effectively closed in 2025.No DeepCube products are on offer and we are to expect that the magic sauce of DeepCube has permeated everything marinating the firm in AI.
Additionally, the FLIGHT design suite along with simulation and optimization in and of itself was very viable indeed but this seems to be squarely in Inspira´s hands now.What does this mean for the industry? For additive in general this is another lesson in having the right management at the right time.It’s easy to get hopping to the rhythm of musical chairs and much more difficult to sit down at the right time.
This is yet another reckoning.Another Alka Seltzer after the heady bacchanal that was a time of more than free money.It should not affect our course much but may retard growth in Additive Electronics specifically.
investors may be more hesitant to back AME firms in light of this deal.But, AME´s potential is still huge while revues are slowly building.With the right technology & attitude very solid businesses in medical devices, research, defense and beyond can by built in AME right now.
What’s more ancillary 3D printing capabilities in micro printing, complex devices and nano level developments could be unlocked as well.In a more sensor driven world where your phone is ever more crammed with technology AME applications are set to grow as well.For the patient this is a good opportunity.
For Additive as a whole, I don´t think that this will impact everyone much.It’s also counter to the building investment we see in AME capabilities by governments worldwide.Conclusion Initially Nano Dimension was inflated by too much imagination.
The dream told could probably never be fulfilled, and Cathy Wood fueled a bonfire.The sheer amount of money evaporated by the Nano Dimension sleigh ride is astounding.Now however I think that the firm does not have enough imagination.
If it wants to stay in Additive then a split into a leader in Additive Electronics powered by AI and a Global inkjet, SMT & Markforged business should have netted them much more money than this.Just for an AI powered electronics 3D printing platform at a time of near limitless investment from semiconductor companies you could have gotten more.Also, in a time of increased sensors and huge anxiety around supply chains a spin out of a Global Inkjet, SMT & AME business should have been able to net you much more as well.
A defense focused electronics, metal and polymer 3D printing business should also be able to find a home.But, even beyond this a supply chain focused electronics 3D printing, inkjet and polymer 3D printing business could win itself significant contracts right now.With some kind of magic the stars have aligned and fanciful investments in AI, electronics 3D printing and other technologies have lead to a perfectly plausible firm, in today’s age.
With Hormuz closed, 3D printed drones dominating the battlefield, the US military might humbled and everyone scrambling for manufacturing sovereignty the formerly unwieldy Nano Dimension kind of looks like the right play.But, currently through not marketing well enough its capabilities and vision the company is doing itself a disservice.In a fractious world AI powered manufacturing assets providing independence should be able to find more capital and revenue.
If Nano wants to sell everything and return cash, it can do so with more aplomb.Subscribe to Our Email Newsletter Stay up-to-date on all the latest news from the 3D printing industry and receive information and offers from third party vendors.Print Services Upload your 3D Models and get them printed quickly and efficiently.
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