Global print and digital document corporation Xerox has sold its additive manufacturing business unit, Elem Additive Solutions, to US-based metal additive manufacturing company ADDiTEC.
In a news release, Xerox stated that it is looking to refocus its strategic goals and investments onto its core competencies and offers, which is why it is selling its additive manufacturing expertise.
In support of these initiatives, Xerox also sold the Xerox Research Centre of Canada to Myrant Capital Partners earlier this year and gave PARC to SRI International.
While the financial terms of the sale have not been disclosed, the existing Xerox Elem Additive team will migrate to ADDiTEC as part of the agreement.
“The Elem Additive team has seen tremendous success since the organization was stood up nearly four years ago. In evaluating partners for this sale, it was critical we found a company with a shared mission that would sustain and advance Elem Additive’s innovation into the future,” said Steve Bandrowczak, chief executive officer at Xerox.
“We are confident that ADDiTEC is the right partner and look forward to witnessing both teams’ shared success on the road ahead,” the CEO noted.
Meanwhile, Brian Matthews, founder and CEO of ADDiTEC, expressed his excitement that Elem Additive will be joining their team.
“We saw incredible value in liquid metal print technology and Elem Additive’s success supplements our growth efforts as we continue to develop new offerings and bring to market our turnkey metal additive manufacturing systems,” Matthews said.
Xerox introduced and officially declared a strategic relationship with the Naval Postgraduate School in early 2021, and a year later, the ElemX was placed aboard a US Navy vessel.
According to Xerox, Siemens and the United States are among the other Elem Additive customers, and Oak Ridge National Laboratory, Rochester Institute of Technology, and Vertex Manufacturing are all part of the Department of Energy.
ADDiTEC will continue to service these customers as the Xerox Elem Additive team transfers to the organisation.
