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Nano Dimension Engages Needham & Co. for Acquisitions; Receives ITAR Registration
June 23, 2020 | Nano Dimension Ltd.Estimated reading time: 1 minute
Nano Dimension Ltd. (Nasdaq: NNDM), a leading additively manufactured electronics (AME)/PE (printed electronics) provider, announced today that is has engaged Needham & Company to advise on acquisitions, mainly in USA, that add complementary products and technologies within the electronic industry and expand its distribution channels.
Additionally, the company announced today that it has completed its registration with the U.S. State Department’s Directorate of Defense Trade Controls (DDTC) under the International Traffic in Arms Regulations (ITAR). DDTC administers and enforces the ITAR, which regulates the manufacture, export and transfer of defense-related articles, information and services. Nano Dimension’s registration with DDTC reflects its commitment to compliance with all laws and regulations applicable to its global business, including serving the U.S. defense and aerospace industries.
“Our registration with DDTC under the ITAR will allow Nano Dimension to continue to expand our customer base in the United States. With our ITAR registration, we are positioned to strengthen our sales and service to the U.S. defense and aerospace markets, effectively and efficiently,” said Yoav Stern, president & CEO of Nano Dimension. “No less importantly,” he added, “we are adjusting our focus to leverage our strong cash position on one side, and the lull in the markets as a result of prolonged Covid-19 effects. While Wall Street is reacting erratically, Main Street is on a prolonged slow-down resulting from temporary large corporate closures, holdbacks on capital spending and similar signs of temporal financial insecurities. This is an environment that enables Nano Dimension to make an efficient use of the support from its shareholders, as manifested by the large cash injections during April and May 2020. We are now focusing on two goals: accelerating and advancing R&D and product road map, in parallel to following sinking valuation of private companies and looking for acquisition targets at the right price and with the proper accretive synergies.”
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