Nano Dimension Snaps Global Inkjet Systems For ~$18M Cash

Nano Dimension Ltd NNDM acquired Global Inkjet Systems Ltd for $18.1 million in cash and involves an earnout of $1.3 million - $10.7 million within the next 27 months.
Cambridge, U.K.-based Global Inkjet is a developer and supplier of control electronics, software, and ink delivery systems. It has more than 130 customers worldwide.
Founded in 2006, Global Inkjet is known for its state-of-the-art 2D and 3D printing inkjet hardware and operating software.
Global Inkjet recorded revenue for the 12 months ended March 31, 2021, of $10 million and a gross margin of 51%.
"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," commented Yoav Stern, Chairman, and CEO of Nano Dimension.
Nano Dimension held $1.4 billion in cash and equivalents as of September 30.
Price Action: NNDM shares traded higher by 1.03% at $3.92 in the premarket session on the last check Thursday.