The Cambridge-based company, which was the subject of a recent Printweek Best of British feature, was founded in 2006 and develops vital components for inkjet printers including drive electronics, ink delivery systems, and front-end control software.
Its 130-plus customers around the world include major OEMs, machine builders, system integrators, fluid developers, and large end-users, who incorporate GIS products as part of their own-badged complete systems.
Nano Dimension, which was founded in Israel in 2012 but is headquartered in Florida, US, is a specialist in Additively Manufactured Electronics (AME)/3D Printed Electronics (PE), and Micro Additive Manufacturing (Micro-AM). It completed its acquisition of GIS yesterday (5 January).
GIS recorded a turnover of around $10m (£7.39m) and a gross margin of 51% for the 12-month period ended 31 March 2021. Nano Dimension paid GIS’ shareholders $18.1m in cash and, in addition, it will pay between $1.3m to $10.7m within the next 27 months if GIS achieves certain financial performance over this period.
Nano Dimension said the foundation of its vision is to provide advanced, digital production technologies for Additive Manufacturing (AM) and PE that meet the speed and efficiency standards of Industry 4.0 fabrication demands.
The combined expertise of both Nano Dimension and GIS are expected to enable faster product development, including the technology that is at the centre of next-generation systems.
“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,” said Nano Dimension chairman and CEO Yoav Stern.
“As a result of this acquisition, we will be able to improve our technology’s performance and time to market. The combined company will own and have access to innovative and yet-to-be-released printing technologies, providing value and leading-edge solutions tailored to our customers’ needs and giving us a clear competitive advantage.”
GIS will continue to develop and sell its hardware and software globally while taking advantage of Nano Dimension’s go-to-market resources and global reach. This combination is expected to enable GIS to penetrate fast-growing printing markets more effectively.
The deal will also provide Nano Dimension with exposure to new market segments and application areas.
“We are very excited to be joining a company that recognises the excellence of our technologies, our passion for innovation and matches our customer-focused culture,” said GIS founder and CEO Nick Geddes.
“Working together, we will be pushing the envelope beyond existing printing capabilities in ways our customers will gain advantages that are unmatched yet.”
Stern added: “This is a win-win for both organisations. Combining forces and resources will enable growth for the integrated company at an accelerated pace. This merger will upgrade Nano Dimension’s product line with GIS’ innovative hardware and software. In parallel, our go-to-market network will expand GIS’ commercial horizon and customer base.
“The combination of both companies will further leverage the customer-focused culture across the entire organisation.”
GIS told Printweek it employs 65 staff, and that no changes to the management team, staff, or its premises are anticipated. At this stage, the business is awaiting full clarification on its branding going forward.
