Stratasys Deepens Footprint in China
Announces the closing of asset purchase transaction with Intelligent CAD/CAM Technology Ltd.
HONG KONG, February 10, 2015 -- Stratasys AP Ltd., a subsidiary of Stratasys Ltd. (NASDAQ: SSYS), a global leader of 3D printing and additive manufacturing solutions, today announced the closing of an asset purchase transaction with its local channel partner – Intelligent CAD/CAM Technology Ltd (ICT), for the purchase of certain assets, targeted at deepening footprint in China to gain better insights into the increasing local market demand.
This transaction reaffirms Stratasys' commitment to the Chinese market and aligns with its overall business growth strategy in the region. Working closely with its local channel partners, Stratasys China will continue to offer the complete suite of Stratasys 3D printing solutions and service the existing installed base of its former partner ICT. ICT will continue to cooperate with Stratasys on 3D printing related opportunities in the future.
“China is an important market for Stratasys and vital to our success in the region," said Jonathan Jaglom, General Manager of Stratasys Asia Pacific and Japan. “We notice that the adoption of 3D printing applications in many vertical markets is rising with the growth of leading innovative enterprises in China. We believe that our expanded local team lays a strong foundation to support these demands, enhancing responsiveness and operational efficiency. As an industry leader, we continue to strive for technology and service excellence through the offering of cutting-edge 3D printing solutions and high level of customer service satisfaction.”
Stratasys China, together with its well established channel network, will continue to focus on key verticals including automotive, education, dental, consumer electronics, consumer goods, medical & medical equipment and industrial machinery.
About Stratasys Ltd.
Stratasys Ltd. (Nasdaq:SSYS), headquartered in Minneapolis, Minnesota and Rehovot, Israel, is a leading global provider of 3D printing and additive manufacturing solutions. The company's patented FDM® and PolyJet™ 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 subsidiary includes MakerBot, and the company operates the digital parts manufacturing service, Stratasys Direct Manufacturing. Stratasys has more than 2,800 employees, holds over 600 granted or pending additive manufacturing patents globally, and has received more than 25 awards for its technology and leadership. Online at: www.stratasys.com or http://blog.stratasys.com.
About Intelligent CAD/CAM Technology Ltd.
Established in 1994, Intelligent CAD/CAM Technology Ltd. (ICT) strives to provide best-in-class 3D solutions and quality services to customers in the Southern and Eastern China region. ICT has 7 offices with over 120 employees, serving more than 3000 customers in different segments including education, government, machinery, toys, watch and clock, mold and die, medical, electrical and electronics. Online at: www.ict.com.hk.
Note Regarding Forward-Looking Statements
The statements in this press release relating to Stratasys’ expectations of the benefits that it will receive from its acquisition of certain assets of Intelligent CAD/CAM Technology Ltd., are forward-looking statements reflecting management's current expectations and beliefs. These forward-looking statements are based on current information that is, by its nature, subject to rapid and even abrupt change. Due to risks and uncertainties associated with Stratasys' business, actual results could differ materially from those projected or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that customers will not perceive the benefits provided by the asset acquisition of Intelligent CAD/CAM Technology Ltd. to be as Stratasys believes them to be; the risk that the integration of the assets of Intelligent CAD/CAM Technology Ltd. into Stratasys will be more difficult and time consuming than Stratasys expects; and other risk factors more fully explained under the caption “Risk Factors” in Stratasys' most recent Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC) on March 3, 2014. Stratasys is under no obligation (and expressly disclaims any obligation) to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by the rules and regulations of the SEC.
Stratasys Asia Pacific