Stratasys to Acquire Exceptional Interest in Xaar 3D to Accelerate Production-Scale Additive Manufacturing Capabilities
EDEN PRAIRIE, Minn., & REHOVOT, Israel – (COMMERCIAL THREAD) –Stratasys Ltd. (NASDAQ: SSYS), a leader in polymeric 3D printing solutions, today announced that it has acquired all of the remaining shares of Xaar 3D Ltd. from Xaar plc (LON: XAR), accelerating the company’s growth in production-scale 3D printing. Stratasys previously held a 45% stake in Xaar 3D.
In April 2021, Stratasys introduced the Stratasys H350 â¢ 3D printer, the first system powered by Xaar 3D powder-based SAF â¢ technology. Representing the culmination of over 10 years of research and development, SAF-based 3D printers are designed to deliver competitively priced parts at production throughput. Since the announcement, the H350 has been successfully installed at Stratasys Direct Manufacturing and various beta customer sites in Europe and the United States, with general availability expected before the end of this year.
âWe are committed to being the leading production-scale polymer 3D printing supplier for our customers as additive manufacturing continues to transform industries around the world,â said Stratasys CEO Dr. Yoav Zeif . âThe H350 printer and SAF technology are at the heart of this mission, providing us with a powerful platform to meet the needs of customers in industries such as commercial goods, automotive, consumer goods and electronics. General public. Customers tell us that the consistent performance of this technology at higher volumes helps them grow their businesses and provides them with a significant competitive advantage. We are delighted to welcome the exceptional team of Xaar 3D innovators to the Stratasys family. ”
H Series â¢ production platform printers such as the H350 are designed to deliver part quality, consistency and reliability that ensure customer satisfaction and high production efficiency. Using SAF technology, printers perform key 3D printing steps in the same direction on the print bed to provide a uniform thermal experience – and therefore part consistency – for all printed parts, regardless of their location in construction. This represents a significant improvement over traditional powder bed melting processes.
The H series printers are also designed for production control. By taking advantage of multiple on-board sensors, construction data is recorded for process traceability and remains fully under customer control. Materials can be controlled, tracked and traced, and print settings can be fine-tuned to suit individual customer needs.
The Xaar 3D team will join Stratasys to continue leading the development of the H Series platform and SAF technology.
âWe created Xaar 3D on the premise that we could help existing powder bed technology take a big step forward, and that’s what is happening with SAF technology,â said Ronen Cohen, Director General of Xaar 3D Ltd. âWe’ve been able to dramatically improve thermal management for more consistent and reliable parts while giving customers the production control they need. As a member of Stratasys, we will continue to rapidly advance the development of the H-Series 3D printers while leveraging Stratasys’ global go-to-market infrastructure and industry-leading customer relationships to enable more customers to benefit from additive manufacturing powered by SAF.
Stratasys Leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. With smart, connected 3D printers, polymer materials, a software ecosystem and on-demand parts, Stratasys solutions deliver competitive advantages at every step of the product value chain. Leading global organizations look to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
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Caution Regarding Forward-Looking Statements
Information in this press release may include “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. forward-looking statements are often characterized by the use of forward-looking terms such as “may”, “will”, “expect”, “anticipate”, “estimate”, “continue”, “believe”, “should”, ” intend, “” project “or other similar words, but can also be identified in other ways. These forward-looking statements may include, without limitation, statements relating to the anticipated completion of the acquisition of Xaar 3D by Stratasys, the objectives, plans and strategies of Stratasys with respect to Xaar 3D following its acquisition, and all statements ( other than statements of historical fact) that deal with activities, events or developments that Stratasys intends, expects, projects, believes or anticipates will occur or may occur in the future. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Stratasys has based these forward-looking statements on assumptions and assessments made by its management and, in some cases, by the management of Xaar 3D in light of their experience and their perception of historical trends, current conditions, expected future developments. and other factors that they believe to be appropriate. Important factors that could cause actual results, developments and business decisions to differ materially from those anticipated in these forward-looking statements include, among others: any potential obstacles to the closing of the acquisition of Xaar 3D; Stratasys’ degree of success in effectively and successfully integrating Xaar 3D operations into Stratasys post-acquisition; the general economic environment and the economic environment for 3D printing and for Stratasys customers in particular; the impact of competition and new technologies; general market, political and economic conditions in the countries in which Stratasys operates, in particular with respect to the ongoing COVID-19 pandemic; government regulations and approvals; changes in client budget priorities; litigation and regulatory procedures; and the factors mentioned under “Risk Factors”, “Company Information”, “Operational and Financial Review and Outlook”, and generally in Stratasys’ annual report on Form 20-F for the year ended 31 December 2020 filed with the US Securities and Exchange Commission, or SEC, March 11, 2021, and in other reports that Stratasys provides or files with the SEC from time to time, including, more recently, the report of the foreign private issuer on Form 6-K. Stratasys results for the quarter ended March 31, 2021, provided to the SEC on May 5, 2021. Readers are urged to carefully review and review the various disclosures provided in Stratasys’ SEC reports, which are designed to inform interested parties of the risks and factors likely to affect its business, financial condition, results of operations and prospects. All forward-looking statements contained in this press release are made as of the date hereof, and Stratasys makes no commitment to publicly update or revise any forward-looking statements, whether as a result of new information, events future or otherwise, unless required by law.
Stratasys, H Series, SAF and H350 are trademarks or registered trademarks of Stratasys Ltd. and / or its affiliates. All other trademarks are the property of their respective owners and Stratasys assumes no responsibility for the selection, performance or use of such non-Stratasys products.