Desktop Metal said it will acquire Adaptive3D, which makes biocompatible rubber and rubber-like materials for additive manufacturing.
The acquisition gives Desktop Metal an entry into volume photopolymer elastomer parts. Adaptive3D's primary resin is Elastic ToughRubber 90 and it 3D prints parts for multiple industries including healthcare, industrial, transportation and oil and gas.
Adaptive3D's core technology was developed through Defense Advanced Research Projects Agency (DARPA) funding. Here's a look at the types of parts Adaptive3D makes.
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Ric Fulop, CEO of Desktop Metal, said Adaptive3D is part of the additive manufacturing company's vertical integration and proprietary materials plan. Fulop said Desktop Metal will combine Adaptive3D's elastomer materials with its printers.
Separately, Desktop Metal reported first quarter revenue of $11.3 million, up 35% from the fourth quarter and $3.4 million a year ago. The company delivered a first quarter net loss of $59.1 million.
While Desktop Metal's revenue is well below other 3D printing players such as Stratasys and 3D Systems, the company's growth is accelerating. As for the outlook, Desktop Metal said it will deliver more than $100 million in revenue for 2021.