UK inkjet control specialist GIS has been acquired by a US customer, endorsing the quality of the technology developed to control and refine the inkjet process.
The 3D printing start up Nano Dimension has acquired UK development company Global Inkjet Systems (GIS) for an initial $18.1 million in cash, with up to a further $10.7 million being available in the next 27 months if financial targets are met.
GIS supplies control electronics and ink delivery systems to inkjet printers and system providers around the world in a number of sectors. In all they have 130 customers generating revenue of $10 million on a 51% gross margin. Nano Dimension is among these customers, coming on board around two years ago.
It has two streams to its business: using 3D printing technology for the production of printed electronics and additively manufactured electronics as well as micro additive manufacturing. This calls for precise control of inkjet deposition to achieve accuracy of conductive ink lay down to form unbroken circuits that are of uniform thickness, with resolution of 18x18x10 microns. The goal is to provide next generation equipment that will produce printed electronics at the speed needed for Industry 4.0 applications.
President and CEO of Nano Dimension Yoav Stern says: 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 with its existing customer base across corrugated and carton board printing, labels, security print, decor and direct to shape.
We use GIS in the current generation of our machines,” says Stern, “so we are very familiar with the technology. The next generation of GIS technology will be built specifically to our specification rather than adapt what GIS produce for us.
Its most recent machine is the Dragonfly IV, designed to test designs and produce prototypes to be placed within universities and research institutes as well as defence and aerospace, printed circuit producers and commercial companies.
Founder and CEO of the 65-strong GIS team Nick Geddes says: 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. Working together, we will be pushing the envelope beyond existing printing capabilities in ways our customers will gain advantages from that are unmatched yet.
There are no plans to relocate from Cambridge though GIS functions will move across the Atlantic to the US where Nano Dimension has built one office in Florida and is planning a second on the eastern seaboard of the US.
Two months prior to buying GIS, Nano Dimension acquired Swiss company Essemtec, a provider of machinery for pick and place in production of electronic assemblies.
Prepared on the basis of information from Print Business