Japanese camera maker Nikon Corp on Friday announced plans to take over German 3D metal printing machine maker SLM Solutions Group for 622 million euros ($622 million) to become a global leader in metal additive manufacturing. The deal values SLM Solutions at 20 euros per share, representing a premium of 75% to Thursday's closing price. Shares in SLM Solutions traded 73% higher on Friday following the news.

"3D Printing will revolutionize mass-production by enabling our clients to manufacture highly complex parts, reduce cycle time, carbon emissions, energy costs and waste," Nikon Chief Executive Toshikazu Umatate said. Nikon said it has already obtained binding commitments from SLM's key shareholders Elliott Advisors (ECAL.UL), ENA Investment Capital and SLM's founder Hans J. Ihde to support the deal, which is expected to close in the first half of 2023.

"Nikon's deep technology heritage and excellence in manufacturing will help SLM to extend its technology leadership position and serve customers even better," SLM CEO Sam O'Leary said. "We look forward to play a key role in Nikon's visionary digital manufacturing strategy."

As part of the transaction, SLM is carrying out a 10% capital increase which is fully subscribed by Nikon at 20 euros per share, it said.