Xaar 3D has been created to develop 3D printing solutions based on High Speed Sintering technologies
A new company, Xaar 3D, has been created through a joint venture with Xaar and Stratasys.
The partnership will combine Xaar's technology relating to High Speed Sintering and industrial piezo inkjet printheads, along with the commercial and market expertise of Stratasys to develop 3D printing solutions.
Xaar will hold 85% of the shares in the new limited company with Stratasys holding 15%. In addition, Stratasys has been granted an option to increase its ownership to a total of 30%. The new company will hold all of Xaar's High Speed Sintering assets and the board will be chaired by Xaar CEO, Doug Edwards. He commented, '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.'
'We are impressed with the Xaar team's achievements to date,' added Scott Crump, chief innovation officer, Stratasys. 'We believe that the complementary assets of our two companies will enable Xaar 3D to develop solutions that further address customers' additive manufacturing requirements for a broader range of production applications.'