Xaar PLC announced at its Cambridge headquarters on July 12 that it will partner with Stratasys, a global leader in additive manufacturing technology, to jointly invest in a newly established company, Xaar 3D Limited. The new joint venture will develop 3D printing solutions based on High Speed Sintering Technologies and take advantage of the natural synergies between Xaar and Stratasys, especially Xaar's high-speed sintering and industrial piezoelectric inkjet Printhead technology and Stratasys' commercial and marketing expertise.
In the new joint venture, Xaar's shares are 85%; Stratasys is 15%, and is allowed to increase its total shareholding to 30%. The new company will fully hold Xaar's high-speed sintering technology assets, and Xaar CEO Doug Edwards will chair the company's board of directors.
Doug Edwards said, "We are very pleased to cooperate with Stratasys. The joint investment between the two parties in 3D printing technology affirms the value created by our research and development team and continues to advance Xaar's business diversification plan. With our technology and expertise, we are also happy to work alongside leaders in the 3D printing market. "
Scott Crump, Chief Innovation Officer of Stratasys, said, "We admire Xaar's achievements. We believe that the complementary assets of Stratasys and Xaar will enable Xaar 3D Ltd to develop better solutions to further satisfy customers in Broader demand for additive manufacturing in production applications. "