Stratasys to Acquire Outstanding Stake in Xaar 3D to Accelerate Production-Scale Additive Manufacturing Capabilities
3D printers powered by Xaar 3D’s SAF technology provide faster, more versatile, and economical alternatives to traditional manufacturing methods
EDEN PRAIRIE, Minn., & REHOVOT, Israel--(BUSINESS WIRE)-- Stratasys Ltd. (NASDAQ: SSYS), a leader in polymer 3D printing solutions, announced today it has acquired all remaining shares of Xaar 3D Ltd. from Xaar plc (LON: XAR), accelerating the company’s growth in production-scale 3D printing. Stratasys previously owned a 45% stake in Xaar 3D.
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Stratasys H350™ 3D printer, the first system powered by Xaar 3D’s powder-based SAF™ technology. (Photo: Business Wire)
In April 2021, Stratasys introduced the Stratasys H350™ 3D printer, the first system powered by Xaar 3D’s powder-based SAF™ technology. Representing the culmination of more than 10 years of research and development, SAF-based 3D printers are designed to deliver cost-competitive parts at production-level throughput. Since the announcement, the H350 has been successfully installed at Stratasys Direct Manufacturing and various beta customer sites in Europe and the U.S., 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 Stratasys CEO Dr. Yoav 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.”
H Series™ Production Platform printers such as the H350 are designed to deliver part quality, consistency, and reliability that ensures customer satisfaction and high production yield. Using SAF technology, the printers execute key 3D printing steps in the same direction across the print bed to provide a uniform thermal experience – and therefore part consistency – for all printed parts regardless of their placement in the build. This represents a significant improvement over traditional powder-bed fusion processes.
H Series printers are also designed for production control. Leveraging multiple on-board sensors, build data is logged for process traceability and remains fully under customer control. Materials can be controlled, tracked, and traced, and print settings can be fine-tuned for each customer’s needs.
The Xaar 3D team will join Stratasys to continue leading the development of the H Series platform and SAF technology.
“We formed Xaar 3D on the premise that we could help existing powder bed technology make a major leap forward, and that’s what’s happening thanks to SAF technology,” said Ronen Cohen, General Manager of Xaar 3D Ltd. “We have been able to significantly improve thermal management for more consistent and reliable parts while giving customers the production control they need. As part of Stratasys, we will continue to rapidly advance H Series 3D printer development while leveraging Stratasys’ global go-to-market infrastructure and blue-chip customer relationships to enable more customers to benefit from SAF-powered additive manufacturing.”
Stratasys is leading the global shift to additive manufacturing with innovative 3D printing solutions for industries such as aerospace, automotive, consumer products and healthcare. Through smart and connected 3D printers, polymer materials, a software ecosystem, and parts on demand, Stratasys solutions deliver competitive advantages at every stage in the product value chain. The world’s leading organizations turn to Stratasys to transform product design, bring agility to manufacturing and supply chains, and improve patient care.
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Cautionary Statement Regarding Forward-Looking Statements
The information contained 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 terminology such as “may,” “will,” “expect,” “anticipate,” “estimate,” “continue,” “believe,” “should,” “intend,” “project” or other similar words, but may be identified in other ways as well. These forward-looking statements may include, but are not limited to, statements relating to the anticipated completion of the acquisition of Xaar 3D by Stratasys, Stratasys’ objectives, plans and strategies with respect to Xaar 3D following its acquisition, and all statements (other than statements of historical fact) that address activities, events or developments that Stratasys 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. Stratasys has based these forward-looking statements on assumptions and assessments made by its management and, in certain cases, by Xaar 3D’s 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: any potential obstacles to closing the acquisition of Xaar 3D; the degree of success of Stratasys in efficiently and successfully integrating the operations of Xaar 3D into Stratasys after the acquisition; the general economic environment and the economic environment for 3D printing and Stratasys’ customers in particular; the impact of competition and new technologies; general market, political and economic conditions in the countries in which Stratasys operates, particularly in respect of the ongoing COVID-19 pandemic; 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 Stratasys’ annual report on Form 20-F for the year ended December 31, 2020 filed with the U.S. Securities and Exchange Commission, or SEC, on March 11, 2021, and in other reports that Stratasys furnishes to or files with the SEC from time to time, including, most recently, the report of foreign private issuer on Form 6-K reporting Stratasys’ results for the quarter ended March 31, 2021, furnished to the SEC on May 5, 2021. Readers are urged to carefully review and consider the various disclosures made in Stratasys’ 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 Stratasys 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.
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 with regard to the selection, performance, or use of these non-Stratasys products.
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Released October 6, 2021