Industrial inkjet printheads manufacturer Xaar PLC and 3D printing giant Stratasys will establish a new company to develop 3D printing solutions based on High Speed Sintering technologies.
The new company, to be called Xaar 3D Limited, will combine Xaar’s know-how in High Speed Sintering and industrial piezo inkjet printheads with the commercial and market expertise of Stratasys.
Xaar 3D Limited will be 85% owned by Xaar, with Stratasys holding a 15% stake in the company.
Under the agreement between the two parties, Stratasys will have an option to increase its ownership in Xaar 3D to a total of 30%, with Xaar 3D to hold all of Xaar’s High Speed Sintering assets.
The Board of the newly established company will be chaired by Xaar CEO, Doug Edwards.
“We are delighted to launch our partnership with Stratasys. This joint investment in the development of 3D printing technologies reinforces the value created by our R&D and continues our plan to diversify Xaar’s business,” Mr Edwards said.
“We are also pleased to be working alongside a leader in the 3D printing space, who recognises the value of Xaar’s technology and expertise.”
Scott Crump, Chief Innovation Officer, Stratasys said:
“We are impressed with the Xaar team’s achievements to date.”
“We believe that the complementary assets of Stratasys and Xaar will enable Xaar 3D Ltd to develop solutions that further address customers’ additive manufacturing requirements for a broader range of production applications.”