Xaar, a manufacturer of inkjet printing technology, has announced it has conditionally agreed to sell its remaining interest in Xaar 3D Ltd to joint partner Stratasys Solutions Ltd, a leader in polymer 3D printing solutions.
Previously Stratasys held a 45 per cent stake in Xaar 3D Ltd.
Xaar said whilst Xaar 3D Ltd had made progress this year, delays to the development of products due to COVID-19 meant it would potentially require more investment than originally planned.
The company added the agreement with Stratasys will provide Xaar 3D Ltd with the best opportunity to complete the commercialisation of the product range in the shortest time and enable Xaar to focus on its core business with an injection of cash. Xaar will continue to receive royalties on product and service sales.
Xaar says additive manufacturing will continue to be an important focus for Xaar’s printhead business with the needs of the sector supported by Xaar’s extensive product portfolio and strong partnership approach to working with its customers.
In April 2021, Stratasys introduced the Stratasys H350 3D printer, the first system powered by Xaar’s 3D powder-based SAF technology.
Stratasys CEO Dr Joav Zeif said the H350 represented the culmination of more than 10 years of research and development, adding SAF-based 3D printers are designed to deliver cost-competitive parts at production-level throughput.
Since its release the Stratasys H350 3D printer has been installed at Stratasys Direct Manufacturing and various beta customer sites in Europe and the US with general availability expected before the end of this year.
“We are committed to being the leading provider of production-scale polymer 3D printing for our customers as additive manufacturing continues to transform industries around the world,” said Dr Zeif.
“The H350 printer and SAF technology are central to that mission, giving us a powerful platform for meeting the needs of customers in industries such as commercial goods, automotive, consumer goods, and consumer electronics.
“Customers tell us this technology’s consistent performance at higher volumes helps them grow their businesses and provides them a significant competitive advantage. We are excited to welcome the outstanding team of innovators from Xaar 3D to the Stratasys family.”
Xaar CEO John Mills said the agreement to sell the remaining interest in Xaar 3D Ltd to Stratasys gives the business the best opportunity to continue its progress and leadership in the field of industrial 3D printing.
“We have enjoyed our partnership with Stratasys and look forward to continuing to work with them to supply printheads to Xaar 3D and share in the long-term success of the business,” Mills said.
“The agreement will also allow us to focus on our core business and other opportunities in the market that will support our long-term growth strategy.”
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