Benzinga | Jul 12, 2021 10:55AM EDT

Desktop Metal Acquires Aerosint For Undisclosed Sum

* Desktop Metal Inc (NYSE:DM) acquired Aerosint, a forerunner in multi-material deposition systems for powder-based additive manufacturing (AM) solutions.

* The financial terms of the transaction remain undisclosed.

* It will help Desktop Metal to own differentiated print technologies that enable an expanding set of AM 2.0 applications at scale, Desktop Metal CEO Ric Fulop said.

* Aerosint will operate as a Desktop Metal subsidiary. It will continue to be led by its founders Edouard Moens de Hase and Matthias Hick, who will serve as MD and Innovation Director of the Aerosint business, respectively.

* Desktop Metal held $572.2 million in cash and equivalents as of Mar. 31, 2021.

* Price action: DM shares traded lower by 3.78% at $10.05 in the market session on the last check Monday.