Nano Dimension To Acquire DeepCube For Undisclosed Sum - Nano Dimension (NASDAQ:NNDM)

Nano Dimension Ltd NNDM has inked an agreement to acquire deep learning pioneer DeepCube. DeepCube will operate as a Nano Dimension division, creating an AI-powered-Additively Manufactured Electronics (AME)/PE (3D-Printed Electronics) platform and services.
The financial terms of the transaction were not disclosed.
DeepCube's training platform and real-time inference engine will be integrated into Nano Dimension AME 3D-printers, acting as smart nodes in a Smart Fabrication Network (SFN).
DeepCube aimed to transform the AME industry into fully AI-enabled, efficiencies, quality, and innovation only possible with deep learning models under the arrangement, DeepCube founder and CTO Dr. Eli David said. David will join Nano Dimension as AI CTO.
Nano Dimension held $671 million in cash and equivalents as of Dec. 31, 2020.
Price action: NNDM shares traded higher by 2.95% at $7.61 on the last check Thursday.