Inkjet technology manufacturer Xaar and 3D specialist Stratasys have announced that Stratasys will purchase shares of Xaar 3D, increasing Stratasys’s stake in Xaar 3D from 15 to 45 percent.
Xaar, through its subsidiary, Xaar 3D Holdings, will retain the remaining 55 percent. The agreement includes an option for Stratasys to acquire the remaining shares of Xaar 3D. The transaction is subject to Xaar plc shareholder approval.
The companies intend for this strategic investment to enable Xaar 3D to accelerate the development of its additive manufacturing solutions based on high speed sintering technology. These solutions target end-use parts applications in low to medium production volumes, primarily in the industrial segment.
Doug Edwards, chief executive officer at Xaar, says, “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.”
When Xaar and Stratasys announced the formation of Xaar 3D in July 2018, they sought to develop high speed sintering additive manufacturing solutions for Stratasys to bring to market. Omer Krieger, executive vice president for products at Stratasys, says, “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.
“This continues our company’s strategy of complementing our own robust R&D efforts with partnerships and investments in other innovative companies to develop new capabilities and products that create new value to our customers.”
