PRESS RELEASE - Desktop Metal and Markforged Reach Amicable Resolution on Trade Secret Litigation
Desktop Metal and Markforged today announced they have reached an agreement that resolves all outstanding litigation between the two companies. Both Desktop Metal and Markforged acknowledge that neither company, nor the individuals named in the litigation, misappropriated any trade secret or confidential information belonging to the other. Further terms and conditions of the settlement will remain confidential.
Markforged makes 3D printers that transform manufacturing. Businesses, engineers, designers and manufacturing professionals all over the world use Markforged machines to print strong parts in composites and metal for every aspect of manufacturing – including prototyping, tooling, fixtures, and high-value end-use production. Founded in 2013 and based in Watertown, MA, Markforged has over 200 employees globally, with a total in $57 million in both strategic and venture capital. To learn more about Markforged, please visit http://markforged.com
About Desktop Metal
Desktop Metal, Inc., based in Burlington, Massachusetts, is accelerating the transformation of manufacturing with end-to-end metal 3D printing solutions. Founded in 2015 by leaders in advanced manufacturing, metallurgy, and robotics, the company is addressing the unmet challenges of speed, cost, and quality to make metal 3D printing an essential tool for engineers and manufacturers around the world. Since its inception, the company has raised $438 million in financing with a portfolio of strategic partners and investors including Ford Motor Company, GV (formerly Google Ventures), GE Ventures, BMW iVentures, Koch Disruptive Technologies, Lowe’s, New Enterprise Associates (NEA) and more. Desktop Metal was selected as one of the world’s 30 most promising Technology Pioneers by the World Economic Forum and named to MIT Technology Review’s list of 50 Smartest Companies. For more information, visit www.desktopmetal.com.