Stratasys Strengthens Materials Development Capabilities with the Asset Acquisition of Interfacial Solutions
MINNEAPOLIS & REHOVOT, Israel--(BUSINESS WIRE)--
Ltd. (NASDAQ: SSYS), a leading global provider of additive
manufacturing solutions, today announced that it has entered into a
definitive asset purchase agreement to acquire certain assets of
Wisconsin-based Interfacial Solutions.
Interfacial Solutions, a provider of thermoplastics R&D and production
services, has been a production partner to Stratasys for its FDM product
lines over the past three years. It has been instrumental in the
research and development for, and is the producer of, some of Stratasys'
"Interfacial Solutions provides significant expertise in plastics and
filament," says David Reis, CEO of Stratasys. "We believe its
knowledgeable team and experience will accelerate Stratasys' materials
development efforts for all of our FDM platforms, including MakerBot.
The acquisition is expected to accomplish three objectives for
Stratasys, which include strengthening our materials R&D skills and
bandwidth; enabling us to become vertically integrated in material
development and manufacturing; and increasing materials production space
and capacity. Overall, we expect to accelerate new materials
development, allowing us to introduce new products to the market faster."
Stratasys expects the transaction to close in the second quarter of
2014, subject to the fulfillment of certain customary closing conditions.
Stratasys Ltd. (Nasdaq: SSYS), headquartered in Minneapolis,
Minn. and Rehovot, Israel, manufactures 3D printers and materials for
prototyping and production. The company's patented FDM® and
PolyJetTM 3D Printing technologies produce prototypes and
manufactured goods directly from 3D CAD files or other 3D content.
Systems include 3D printers for idea development, prototyping and direct
digital manufacturing. Stratasys subsidiaries include MakerBot and
Solidscape, and the company operates the RedEye digital-manufacturing
service. Stratasys has more than 1800 employees, holds over 550 granted
or pending additive manufacturing patents globally, and has received
more than 20 awards for its technology and leadership. Online at: www.stratasys.com
Interfacial Solutions LLC is a privately held contract research
and development technology company with a proven track record of helping
innovators innovate in the material science field. Located in a 42,000
square foot facility near River Falls, Wisconsin, Interfacial Solutions
has a creative team of scientists possessing more than 50 issued patents
and is equipped with state-of-the-art polymer testing equipment,
compound and processing equipment, and production capabilities to meet a
broad range of plastic industry challenges. Additional information can
be found at http://www.interfacialsolutions.com.
Stratasys and FDM are registered trademarks of Stratasys Ltd and or its
subsidiaries or affiliates.
Cautionary Statement Regarding Forward-Looking Statements
Certain information included or incorporated by reference in this press
release may be deemed to be "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 terminology such as "may," "will,"
"expect," "anticipate," "estimate," "continue," "believe," "should,"
"intend," "project" or other similar words, but are not the only way
these statements are identified. These forward-looking statements may
include, but are not limited to, statements relating to the company's
objectives, plans and strategies, statements that contain projections of
results of operations or of financial condition (including, with respect
to the Harvest Technologies and/or Solid Concepts mergers) and all
statements (other than statements of historical facts) that address
activities, events or developments that the company intends, expects,
projects, believes or anticipates will or may occur in the future.
Forward-looking statements are not guarantees of future performance and
are subject to risks and uncertainties. The company has based these
forward-looking statements on assumptions and assessments made by its
management in light of their experience and their perception of
historical trends, current conditions, expected future developments and
other factors 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 other things: the company's ability to
efficiently and successfully integrate the operations of Stratasys, Inc.
and Objet Ltd. after their merger as well as the ability to successfully
integrate MakerBot, Solid Concepts and Harvest Technologies and other
acquired entities and/or businesses into Stratasys; the overall global
economic environment; the impact of competition and new technologies;
general market, political and economic conditions in the countries in
which the company operates; projected capital expenditures and
liquidity; changes in the company's strategy; government regulations and
approvals; changes in customers' budgeting priorities; litigation and
regulatory proceedings; and those factors referred to under "Risk
Factors", "Information on the Company", "Operating and Financial Review
and Prospects", and generally in the company's annual report on Form
20-F for the year ended December 31, 2013 filed with the U.S. Securities
and Exchange Commission and in other reports that the Company has filed
with the SEC. Readers are urged to carefully review and consider the
various disclosures made in the company's SEC reports, which are
designed to advise interested parties of the risks and factors that may
affect its business, financial condition, results of operations and
prospects. Any forward-looking statements in this press release are made
as of the date hereof, and the company undertakes no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
Readers are urged to carefully review and consider the various
disclosures made in the company's SEC reports, which are designed to
advise interested parties of the risks and factors that may affect its
business, financial condition, results of operations and prospects. Any
forward-looking statements in this press release are made as of the date
hereof, and the company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
Shane Glenn, 952-294-3416
VP, Investor Relations
Source: Stratasys Ltd.
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