January 15, 2021
Desktop Metal, Inc. (NYSE: DM), a leader in mass production and turnkey additive manufacturing solutions, has announced the signing of a definitive agreement to acquire EnvisionTEC, a leading global provider of volume production photopolymer 3D printing solutions for end-use parts, for total consideration of US$300 million, consisting of a combination of cash and newly issued Desktop Metal stock. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions. Following completion of the acquisition, EnvisionTEC will operate as a wholly owned subsidiary of Desktop Metal.
Latham & Watkins LLP represents Desktop Metal, Inc. in the transaction with a corporate deal team led by Houston partner Ryan Maierson, and Boston partners John Chory and Emily Taylor, with Boston associate Taylor Weaver. Advice was also provided on other corporate matters by Hamburg partners Stefan Widder and Christoph W.G. Engeler, with associate Maximilian Berenbrok; on tax matters by Los Angeles partner Samuel Weiner and Hamburg partner Tobias Klass, with Boston associates Joseph Curran and Jeremiah Cowen; on benefit and compensation matters by Washington, D.C. partner David Della Rocca and Munich partner Tobias Leder, with Washington, D.C. associate Kirk Porter; on intellectual property and privacy matters by Boston partner Sarah Gagan, Frankfurt partner Susan Kempe-Mueller and New York counsel Betsy Mukamal, with Boston associate Deborah Hinck and Frankfurt associates Pia Sösemann and Wolf-Tassilo Böhm; on antitrust matters by Washington, D.C. partners Jason Cruise and Erin Brown Jones, Frankfurt partner Sebastian Max Hauser, Washington, D.C. counsel Peter Todaro and Hamburg counsel Jana Dammann de Chapto; on environmental matters by Washington, D.C. partner James Barrett; and on insurance matters by Los Angeles partner Drew Levin, with Los Angeles associate Harrison White.