XAAR Divests Xaar 3D Ltd
Xaar CEO John Mills - Xaar to sell remaining interest in Xaar 3D Ltd to joint partner Stratsys.
Posted On
6th Oct 2021
Categories
3D Additive, Company, 2021 Q4
Xaar, the leading inkjet printing technology group, has conditionally agreed terms with its joint partner Stratasys Solutions Limited to sell its remaining interest in Xaar 3D Ltd.
Xaar 3D Ltd has continued to make progress this year, although delays to the development of products due to the COVID-19 pandemic meant that the business would potentially require more investment than originally planned.
The agreement with Stratasys will provide Xaar 3D Ltd with the best opportunity to complete the commercialisation of the product range in the shortest time and enable Xaar to focus on its core business with an injection of cash. Xaar will continue to receive royalties on product and service sales.
Additive Manufacturing will continue to be an important focus for Xaar’s printhead business with the needs of the sector supported by Xaar’s extensive product portfolio and strong partnership approach to working with its customers.
John Mills, Xaar’s Chief Executive Officer, said: “This agreement will provide Xaar 3D Ltd with the best opportunity to continue its progress and leadership in the field of industrial 3D printing. We have enjoyed our partnership with Stratasys and look forward to continuing to work with them to supply printheads to Xaar 3D and share in the long-term success of the business. The agreement will also allow us to focus on our core business and other opportunities in the market that will support our long-term growth strategy.”
About Xaar
Together with our partners and customers, Xaar has been transforming the world of inkjet technology for 30 years – and we’re just getting started.
With a new leadership team, new technology and new products, we have an exciting roadmap for the future – that will help our partners unleash the true power of inkjet printing and open up a world of opportunities for their business.
We believe true innovation comes from collaboration, which is why all our teams work together in Cambridgeshire where industrial inkjet was born.
Collaboration is at the core of our global partnerships too - whether we’re helping customers enhance their uptime or create production efficiencies from high-speed digitisation - we’re always innovating together.
We know that inkjet technology can not only maximise the efficiency of our partners’ businesses but help them evolve too. That’s why we go on a journey with our customers - offering expert insights and technical support every step of the way. Just like our printheads, Xaar’s partnerships are built to last.
Welcome to a whole new Xaar.
www.xaar.com