General Electric (GE) reached an agreement to acquire a 75% stake in Concept Laser for €549MM (~US $599MM). The agreement allows for GE to take full ownership in the future.
Concept Laser manufactures powder bed-based laser additive manufacturing machines serving aerospace, medical and dental customers. The company is headquartered in Lichtenfels, Germany, with >200 employees throughout operations including Texas and China and a global network of >35 distributors and agents.
GE will invest significantly in the Lichtenfels location, which will continue to be Concept Laser’s headquarters and become a new German center for GE. GE will retain Concept Laser’s management and employees.
GE abandoned its planned acquisition of SLM Solutions Group and has increased the offer price for each Arcam share to 300 SEK (~US $33.22). The Arcam board of directors continues to unanimously recommend that Arcam's shareholders accept GE's offer.