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Stratasys to increase stake in Xaar 3D from 15% to 45%

24 Sep '19

2 min read

Pic: Stratasys

Stratasys, a provider of 3D printing technology and services, has signed a deal with Xaar to buy shares of Xaar 3D to increase Stratasys’s stake in Xaar 3D from 15 to 45 per cent. Xaar, through its fully owned subsidiary Xaar 3D Holdings, retains the remaining 55 per cent. The deal also gives an option to Stratasys to acquire the remaining shares of Xaar 3D.

The transaction is subject to Xaar shareholder approval.

The strategic investment by Stratasys is intended to enable Xaar 3D to accelerate the development of its additive manufacturing solutions based on High Speed Sintering (HSS) technology. These solutions are designed for end-use parts applications in low-to-medium production volumes, primarily in the industrial segment.

Xaar and Stratasys formed Xaar 3D in July 2018. The purpose of the joint venture is to develop High Speed Sintering additive manufacturing solutions that Stratasys can bring to market.

“Xaar 3D has made significant progress over the past year and we see benefits to Stratasys in extending its investment in Xaar 3D's innovative High Speed Sintering based solutions. We look forward to continue developing the technology together with Xaar and believe the combined expertise of both parties will lead to exploitation of the technology's promising potential,” said Omer Krieger, EVP Products. “This continues our company’s strategy of complementing our own robust R and D efforts with partnerships and investments in other innovative companies to develop new capabilities and products that create new value to our customers.”

“Xaar 3D has great potential and we look forward to continuing to work with Stratasys to develop its full potential in this deeper relationship. I am pleased that this transaction will create good value for Xaar shareholders and unlocks the ability for more significant value in due course,” said Doug Edwards, chief executive officer, Xaar.

Stratasys is a global leader in additive manufacturing or 3D printing technology and is the manufacturer of FDM and PolyJet 3D printers. The company’s technologies are used to create prototypes, manufacturing tools, and production parts for industries including aerospace, automotive, healthcare, consumer products, and education. (SV)

Fibre2Fashion News Desk – India