Xaar PLC Invests with Stratasys to Develop 3D Printing Solutions
CAMBRIDGE - July 12, 2018 - Xaar PLC is pleased to announce today that it will invest with Stratasys, a global leader in additive manufacturing, in a newly formed company, Xaar 3D Limited, to develop 3D printing solutions based on High Speed Sintering technologies. Xaar 3D Ltd will leverage the natural synergies between Xaar and Stratasys, specifically Xaar’s technology relating to High Speed Sintering and industrial piezo inkjet printheads, along with the commercial and market expertise of Stratasys.
Xaar will hold 85% of Xaar 3D Ltd shares with Stratasys holding 15%. In addition, Stratasys has been granted an option to increase its ownership in Xaar 3D Ltd to a total of 30%. Xaar 3D Ltd will hold all of Xaar’s High Speed Sintering assets. The new company’s Board will be chaired by Xaar CEO, Doug Edwards.
“We are delighted to launch our partnership with Stratasys. This joint investment in the development of 3D printing technologies reinforces the value created by our R&D and continues our plan to diversify Xaar’s business. We are also pleased to be working alongside a leader in the 3D printing space, who recognises the value of Xaar’s technology and expertise,” said Doug Edwards, Chief Executive Officer, Xaar.
“We are impressed with the Xaar team’s achievements to date. We believe that the complementary assets of Stratasys and Xaar will enable Xaar 3D Ltd to develop solutions that further address customers' additive manufacturing requirements for a broader range of production applications,” said Scott Crump, Chief Innovation Officer, Stratasys.
The preceding press release was provided by a company unaffiliated with Wide-Format Impressions. The views expressed within do not directly reflect the thoughts or opinions of Wide-Format Impressions.
