Stratasys, a provider of 3D printers and related materials that serves a wide variety of industries and has offices in Eden Prairie, Minnesota and Israel, announces that it has entered into an agreement with UK-based industrial inkjet printhead manufacturer Xaar to increase its stake in Xaar 3D Holdings to 45 percent from 15 percent.
The remaining 55 percent will continue to be held by Xaar plc.
Xaar plc and Stratasys announced the formation of Xaar 3D Ltd in July 2018. The purpose of the joint investment is to develop high-speed sintering additive manufacturing (3D printing) solutions for Stratasys to bring to market.
Along with the increase in ownership percentage, the new agreement includes an option for Stratsys to acquire the remaining shares of Xaar 3D. The deal is subject to shareholder approval.
Stratasys says the additional investment will enable Xaar 3D to accelerate the development of its additive manufacturing solutions, which are designed for end-use parts applications in low-to-medium production volumes, primarily in the industrial segment.
“Xaar 3D Ltd has great potential and we look forward to continuing to work with Stratasys to develop its full potential in this deeper relationship,” says Doug Edwards, CEO of Xaar plc. “I am pleased that this transaction will create good value for Xaar shareholders and unlocks the ability for more significant value in due course.”