MINNEAPOLIS & REHOVOT, Israel–(BUSINESS
WIRE)– Stratasys Ltd.
(NASDAQ: SSYS), a leading global provider of additive manufacturing solutions, announced that it has entered into a definitive asset purchase agreement
to acquire certain assets of Wisconsin-based
Interfacial Solutions.
Interfacial Solutions, a provider of thermoplastics R&D
and production services, has been a production partner to Stratasys for its FDM
product lines over the past three years. It has been instrumental in the
research and development for, and is the producer of, some of Stratasys’
thermoplastic material.
“Interfacial Solutions provides significant expertise in
plastics and filament,” says David Reis, CEO of Stratasys.
“We believe its knowledgeable team and experience will accelerate
Stratasys’ materials development efforts for all of our FDM platforms, including
MakerBot. The acquisition is expected to accomplish three objectives for Stratasys,
which include strengthening our materials R&D skills and bandwidth;
enabling us to become vertically integrated in material development and
manufacturing; and increasing materials production space and capacity. Overall,
we expect to accelerate new materials development, allowing us to introduce new
products to the market faster.”
Stratasys expects the
transaction to close in the second quarter of 2014, subject to the fulfillment
of certain customary closing conditions.
Stratasys
Ltd. (Nasdaq: SSYS), headquartered in Minneapolis,
Minn. and
Rehovot, Israel,
manufactures 3D printers and materials for prototyping and production. The
company’s patented FDM® and PolyJetTM 3D
Printing technologies produce prototypes and manufactured goods directly from
3D CAD files or other 3D content. Systems include 3D printers for idea
development, prototyping and direct digital manufacturing. Stratasys subsidiaries
include MakerBot and Solidscape,
and the company operates the RedEye digital-manufacturing service. Stratasys has more
than 1800 employees, holds over 550 granted or pending additive manufacturing
patents globally, and has received more than 20 awards for its technology and
leadership. Online at: www.stratasys.com or http://blog.stratasys.com
Interfacial Solutions LLC is a
privately held contract research and development technology company with a
proven track record of helping innovators innovate in the material science
field. Located in a 42,000 square foot facility near River
Falls, Wisconsin, Interfacial Solutions has a creative team of
scientists possessing more than 50 issued patents and is equipped with
state-of-the-art polymer testing equipment, compound and processing equipment,
and production capabilities to meet a broad range of plastic industry
challenges. Additional information can be found athttp://www.interfacialsolutions.com.
Stratasys and FDM are
registered trademarks of Stratasys
Ltd and
or its subsidiaries or affiliates.
Cautionary Statement Regarding Forward-Looking Statements
Certain information included or incorporated by reference in
this press release may be deemed to be “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements are often characterized by the
use of forward-looking terminology such as “may,” “will,”
“expect,” “anticipate,” “estimate,”
“continue,” “believe,” “should,”
“intend,” “project” or other similar words, but are not the
only way these statements are identified. These forward-looking statements may
include, but are not limited to, statements relating to the company’s
objectives, plans and strategies, statements that contain projections of
results of operations or of financial condition (including, with respect to the
Harvest Technologies and/or Solid Concepts mergers) and all statements (other
than statements of historical facts) that address activities, events or
developments that the company intends, expects, projects, believes or
anticipates will or may occur in the future. Forward-looking statements are not
guarantees of future performance and are subject to risks and uncertainties.
The company has based these forward-looking statements on assumptions and
assessments made by its management in light of their experience and their
perception of historical trends, current conditions, expected future
developments and other factors they believe to be appropriate. Important
factors that could cause actual results, developments and business decisions to
differ materially from those anticipated in these forward-looking statements
include, among other things: the company’s ability to efficiently and
successfully integrate the operations of Stratasys,
Inc. and Objet
Ltd. after
their merger as well as the ability to successfully integrate MakerBot, Solid
Concepts and Harvest Technologies and other acquired entities and/or businesses
into Stratasys;
the overall global economic environment; the impact of competition and new
technologies; general market, political and economic conditions in the
countries in which the company operates; projected capital expenditures and
liquidity; changes in the company’s strategy; government regulations and approvals;
changes in customers’ budgeting priorities; litigation and regulatory
proceedings; and those factors referred to under “Risk Factors”,
“Information on the Company”, “Operating and Financial Review
and Prospects”, and generally in the company’s annual report on Form 20-F
for the year ended December
31, 2013 filed
with the U.S.
Securities and Exchange Commission and in other reports that the Company has
filed with the SEC.
Readers are urged to carefully review and consider the various disclosures made
in the company’s SEC reports,
which are designed to advise interested parties of the risks and factors that
may affect its business, financial condition, results of operations and
prospects. Any forward-looking statements in this press release are made as of
the date hereof, and the company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
Readers are urged to carefully review and consider the
various disclosures made in the company’s SEC reports,
which are designed to advise interested parties of the risks and factors that
may affect its business, financial condition, results of operations and
prospects. Any forward-looking statements in this press release are made as of
the date hereof, and the company undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
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