Nano Dimension (NASDAQ: NNDM) has launched a takeover bid  to acquire Stratasys (NASDAQ: SSYS) in an all-cash offer valued at $1.1 billion.

If successful, the company says that the acquisition would create a market leader in the 3D printing industry with a wide ranging portfolio consisting of materials, software, and deep learning capabilities. The acquisition would also enable the combined entity to capitalize on new growth opportunities while navigating the challenges of the current environment with greater ease.

Yoav Stern, Chairman and Chief Executive Officer of Nano Dimension stated: “Together, Nano Dimension and Stratasys can offer an increasingly exciting set of solutions for customers while becoming better positioned to compete in the AME and AM industries.”

Stratasys has confirmed receipt of the unsolicited offer and says it will evaluate the proposal to determine the best course of action. The offer made by Nano Dimension reflects 36% premium to Stratasys’s closing price as of March 1, 2023. 

Nano Dimension serves over 2,000 customers across vertical target markets such as aerospace & defense, advanced automotive, high-tech industrial, specialty medical technology, R&D and academia.

Shares of Nano Dimension trade on the NASDAQ under the ticker symbol NNDM. Shares of Stratasys also trade on the NASDAQ under the ticker symbol SSYS.