Dentsply Sirona to buy clear aligner maker Byte in $1.04bn deal

Dentsply said on Monday that the deal adds scale to its SureSmile clear aligner business and strengthens its connection with dental professionals.

Byte is expected to generate 2021 run-rate sales of at least $200m. Combined with the SureSmile business, which has an expected revenue run-rate of $100m by the end of this year, Dentsply Sirona expects a clear aligner revenue run-rate in excess of $300m by the year-end.

The acquisition is expected to generate non-GAAP earnings per share accretion of at least $0.05 in 2021 and be incrementally accretive in the years thereafter.

Dentsply chief executive Don Casey said: "Over the past two years, we have executed against our restructuring plan, strengthening the R&D, supply chain and commercial platforms, positioning Dentsply Sirona for long-term growth.

"We are excited to take the next step in our evolution by bringing Byte into our organisation. We have been pleased with the growth of our SureSmile clear aligner business and we are confident that adding the innovative platform of Byte adds scale for us in the important clear aligner market."

The CEO of Byte, Neeraj Gunsagar, and the existing management team will continue to operate the business.