Stratasys and Nano Dimension Cancel $42.5M Markforged Deal

Stratasys (Nasdaq: SSYS) will no longer acquire Markforged from Nano Dimension (Nasdaq: NNDM) after the two companies agreed to cancel their $42.5 million deal. The decision, announced on November 12, 2026, comes nearly six months after the acquisition was first announced, and on the same day Stratasys reported its third-quarter earnings.

According to a filing with the US Securities and Exchange Commission, the companies mutually terminated the agreement on November 11 after deciding that the regulatory approvals needed to complete the transaction “would take materially longer, and be more expensive, than initially anticipated.”

The deal was announced in May as part of Stratasys’ plan to expand its industrial 3D printing business. Markforged would have added new polymer, composite, and metal extrusion technologies to Stratasys’ portfolio, along with software and a larger reseller network. Nano Dimension would have retained Markforged’s metal binder jetting business.

At the time, Stratasys CEO Yoav Zeif said the acquisition would strengthen the company’s position in aerospace, defense, and other industrial markets. Markforged’s continuous carbon fiber technology was extremely attractive for applications needing lightweight, strong parts. Now, those plans will not move forward.

During Stratasys’ Q3 earnings call, William Blair analyst Brian Drab asked Zeif whether the company would look to develop Markforged’s technology internally or find similar capabilities elsewhere.

“Both parties decided that it’s better at this point of time, from both parties’ perspective, to terminate. Now, there are also good technologies there, but I want to take a step back and share that from our perspective, we wanted the deal. It’s a complementary technology. It’s not a transformative one for Stratasys,” Zeif responded. “We are still the leader in FDM. It doesn’t change the strength of our position or the direction of us going forward standalone. Having said that, there are alternatives. We remained committed to be at the forefront of FDM with advanced additive manufacturing. There are other alternatives, there are other technologies that will put us there.”

Meanwhile, CFO Eitan Zamir confirmed that the termination would have no financial repercussions for the company.

The timing is particularly interesting because Stratasys also released its Q3 2026 financial results on November 12, showing growth in several of the markets that the Markforged acquisition was meant to strengthen.

Revenue reached $142.6 million, up 4.1% from the same quarter last year. Aerospace and defense, now Stratasys’ largest business, grew more than 35% year over year, while systems revenue increased approximately 12%.

Stratasys Direct Manufacturing, the company’s parts production business, also grew about 10% year over year. As Matt Kremenetsky discusses in his latest review of Stratasys earnings, the growth reflects an important shift in the industry. More customers are using 3D printing for production rather than just prototyping, and keeping machines running efficiently is becoming increasingly important.

This also helps explain why Stratasys wanted to acquire Markforged. The deal would have helped the company expand its business, especially in aerospace and defense, where demand for 3D printed parts is growing.

But Stratasys’ latest earnings show that it is already growing in these markets without Markforged. Its 3D printing services business is also doing well, as more customers choose to order parts rather than invest in new machines.

For Nano Dimension, however, the situation is different. Just one week earlier, in its November 5 earnings release, the company said the Markforged sale remained on track to close before the end of 2026. Nano Dimension has been looking at ways to cut costs and sell parts of its business. With the deal now canceled, the company will keep Markforged for the time being, although it’s not fully clear what it plans to do with it next.

For Stratasys, the deal may be off, but the company is still seeing growth in aerospace, defense, and 3D printing services. Its latest earnings show that these areas are doing well, even without Markforged.