Nikon announced the acquisition of SLM Solutions Group AG, a German metal 3D printer. Nikon will purchase all outstanding shares of SLM Solution at a price of 20.00 euros per share, with a total transaction amount of 622 million euros. Nikon will complete the acquisition in the form of full cash payment. At the same time, Nikon will add 45 million euros to SLM Solution, accounting for about 10% of the registered capital.
Mr. Ma Lirenhe, CEO of Nikon, said: "Through the acquisition of SLM, Nikon is taking an important step towards our vision of 2030. We focus on digital manufacturing as a growth engine, and will create value through metal additive manufacturing, a promising market. Metal additive manufacturing will completely change mass production, enabling our customers to manufacture highly complex parts, reducing carbon emissions, energy costs and waste. The common vision of Nikon and SLM is that our technology Driven innovation will change the future of manufacturing. This acquisition will be the key to our digital manufacturing business. "
Nikon will take trust and innovation as the core cooperation concept, unlock the future with the power of light and shadow, and take digital manufacturing as the core of future development. Taking this acquisition as an opportunity, Nikon will continue to expand its business scope and create new value in differentiated fields while maintaining its main businesses of imaging and precision equipment. After the completion of the acquisition, Nikon will continue to cooperate with customers in depth. Relying on its advantages in high-precision measurement, three-dimensional calibration, precision system integration and other fields, it will provide customers with optimized products and services, continue to innovate in depth, predict the challenges customers will face in the future, and promote the innovation process with diversified solutions. Nikon hopes to build itself into a global key technology solution company by 2030.
SLM Solution was founded in 1996, with its headquarters in Germany and branches in China, Japan, France, the United States and other countries. The company is a leading supplier of 3D printing metals and has invented technologies such as selective laser melting. SLM is a leading manufacturer of L-PBF (laser powder bed melting technology) technology. It has the fastest L-PBF system in the world. It provides services to many of the world's top 500 enterprises, including Porsche, BMW, Siemens, Boeing, and enjoys a high reputation in the metal additive industry.
What happens next?
As of September 30, the acceptance period of other shareholders of SLM Solutions had begun. During this period, the shareholders of SLM Solutions can accept the offer and bid for the corresponding shares at a price of 20 euros per share. The acceptance period will end on November 1 and may be extended for two weeks. At present, the management and the Board of Supervisors of SLM Solutions welcome and fully support the transaction and the acquisition offer, depending on the review results of the offer documents. In addition, SLM Solution's management and members of the Board of Supervisors have committed to include their shares in the acquisition offer.
After the successful completion of the acquisition, Nikon will measure whether to launch the delisting procedure of SLM Solutions at the Frankfurt Stock Exchange if commercially reasonable and market conditions permit. Generally speaking, the parent company needs to hold 90% of the shares of the subsidiary to delist it. In 2018, GE Additive took delisting measures against Arcam after increasing its shareholding ratio to nearly 95%.
With the beginning of the acceptance period, Nikon's acquisition of SLM Solutions will be conducted in accordance with German law. The acquisition is expected to be completed from January to June 2023 after being approved by relevant regulatory authorities. Nikon said that it would continue to pursue stable growth in accordance with the medium-term management plan.
From: Yesky Digital Video Channel and TCT Overseas Column
