A Stoke-on-Trent 3D printing business has been sold to a US firm.
Meta Additive, based in Longton, has been acquired by Desktop Metal Inc in a move which combines "two complementary businesses."
Meta, led by Dr Kate Black and Simon Scott, was founded in 2019 as a spin out of the University of Liverpool to "elevate" the additive manufacturing industry through innovation, collaboration and chemistry.
Its novel binder jet technology helps to eliminate issues of porosity, shrinkage, part size limitation and slow production speeds.
Audit, tax and consulting services provider RSM advised the shareholders of Meta Additive on the sale.
James Wild, corporate finance partner at RSM UK, said: "The Additive Manufacturing sector is at an exciting stage in its development. Continued investment is accelerating the growth of the market at an exceptional rate. The transaction combines two complementary businesses and delivers geographical reach and operational synergies that will help support further growth."
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Desktop Metal Inc is a public US technology company that designs and markets 3D printing systems which aim to make metal and carbon fibre 3D printing accessible to all engineers, designers and manufacturers.
Ric Fulop, Desktop Metal founder and CEO, said: "We are excited to welcome Meta Additive to Desktop Metal, adding next-generation binder technology to our materials portfolio."
