(Reuters) - Dental technology supplier Dentsply Sirona Inc has acquired Byte, a maker of custom teeth aligners, for $1.04 billion in cash, the companies said on Monday.
Los Angeles-based Byte is an online company that provides patients access to at-home clear aligner kits for teeth.
Rival SmiledirectClub began selling aligners directly to customers last year.
Dentsply Chief Financial Officer Jorge Gomez expects the transaction to add to the company’s long-term financial commitments.
Byte Chief Executive Officer Neeraj Gunsagar and the company’s existing management team will continue to operate the business, the companies said in a statement.
Reporting by Mrinalika Roy in Bengaluru; Editing by Maju Samuel
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