Graphene 3D Lab Inc. has inked a deal to acquire Boots Industries Inc., a Canadian 3D printer manufacturer. Graphene 3D says that they intend to purchase all Boots Industries’ assets — and to hire the team at Boots Industries — in an all share transaction.
The company says the deal will see the Boots Industries team work to create a proprietary 3D printer capable of printing functional and electronic devices to optimize and maximize performance of Graphene 3D’s functional printing materials.
Founded in 2012, Boots Industries emerged as a player in the Canadian 3D printing market with their BI V2.0, a large-volume 3D printer.
“The goal of Graphene 3D is to introduce a 3D printing ecosystem, including a 3D printer and functional materials, capable of printing operational and electronic devices,” says Daniel Stolyarov, CEO of Graphene 3D. “The team at Boots Industries have been successful to date in the development and sale of high-quality 3D printers, and we have the utmost confidence in their teams’ capabilities to develop a multi-material printer optimized for Graphene 3D materials.”
Jean Le Bouthillier, CEO of Boots Industries, said his company is enthusiastic about the opportunity to develop a 3D printer capable of printing operational devices with functional materials
“The entire Boots Industries team is looking forward to working within the Graphene 3D team on the next revolution in 3D printing,” Le Bouthillier said of the deal.
The two companies have signed an exclusive letter of intent for the transaction. The terms of the deal call for an all-share transaction capped at a valuation of $500,000 CA in common shares, that the Boots Industries’ development team will join Graphene Lab’s R&D team and it’s thought that a definitive agreement will be inked during the first quarter of 2015.
Graphene 3D Lab develops, manufactures, and markets proprietary, graphene-based nanocomposite materials for various types of 3D printing. The Graphene 3D Lab facility is located in Calverton, NY and it’s equipped with material processing and analytical equipment which the company uses to complete work which has resulted in three US patent applications pending for its technology.