LOD, Israel, February 17, 2016 /PRNewswire/ --
Massivit 3D Printing Technologies Ltd. announced it has closed an investment by Stratasys (NASDAQ: SSYS), the 3D printing and additive manufacturing solutions company. The proceeds will be used to further develop, promote and deploy Massivit's proprietary super-sized, super-fast 3D printing solutions. Terms of the investment were not disclosed.
Massivit is a manufacturer of large-format 3D printers used for rapid creation of super-sized objects. Massivit primarily targets the visual communication market, where its solutions serve to create large display objects for point-of-sale branding, advertising, exhibitions, theme parks and other applications.
Massivit's vision is to revolutionize large-format 3D printing using its proprietary Gel Dispensing Printing (GDP) technology. The company offers for sale a super-sized, super-fast 3D printing solution comprising the Massivit 1800 system and the Dimengel 3D printing material, both created to meet the needs of the visual communication market. Next, Massivit is looking to build upon its GDP technology to craft solutions for additional markets that require fast large format-3D printing.
"The investment by Stratasys, which comes after a comprehensive due diligence process, is a strong validation of our unique technology and strong value proposition," says Avner Israeli, Massivit CEO. "We look forward to Stratasys' support in the fulfillment of our vision, including sharing its operational experience and insights, helping us expand into new markets and more."
"Stratasys is actively fostering innovation in the 3D printing and additive manufacturing industry. This includes, among other activities, investing in and collaborating with start-up companies, research centers and other partners developing promising and potentially disruptive technologies," says Stratasys Vice President of Corporate Development & Ventures, Alon Elie.
"With Massivit, we gain exposure to markets and applications in which Stratasys is not active today such as visual branding, outdoor signage, landscaping and construction. We are excited about the possible applications of Massivit 3D's GDP technology in those markets and others, which we will jointly explore."
Investment proceeds will be used to accelerate Massivit's market penetration, build a global presence, enhance logistic and manufacturing capabilities as well as support the continuation of the development of the company's product portfolio.
About Massivit 3D Massivit 3D Printing Technologies Ltd. is a leading provider of large-format 3D printing solutions. It was established by a group of experienced industry veterans from leading digital printing companies, who decided to make a statement in the global 3D printing industry. The MASSIVIT system, the fastest large format 3D printing solution, is based on the proprietary GDP (Gel Dispensing Printing) technology and numerous patents. The solution ignites a market explosion in the use of large 3D objects, through a variety of markets worldwide.
About Stratasys For more than 25 years, Stratasys Ltd. (NASDAQ: SSYS) has been a defining force and dominant player in 3D printing and additive manufacturing - shaping the way things are made. Headquartered in Minneapolis, Minnesota and Rehovot, Israel, the company empowers customers across a broad range of vertical markets by enabling new paradigms for design and manufacturing. The company's solutions provide customers with unmatched design freedom and manufacturing flexibility - reducing time-to-market and lowering development costs, while improving designs and communications. Stratasys subsidiaries include MakerBot and Solidscape, and the Stratasys ecosystem includes 3D printers for prototyping and production; a wide range of 3D printing materials; parts on-demand via Stratasys Direct Manufacturing; strategic consulting and professional services; and the Thingiverse and GrabCAD communities with over 5 million 3D printable files for free designs. With 3,000 employees and 800 granted or pending additive manufacturing patents, Stratasys has received more than 30 technology and leadership awards. Visit us online at: http://www.stratasys.com or http://blog.stratasys.com/.
MASSIVit 3D Lilach Sapir Phone: +972-8-6519486; +972-54-9492828 E-mail: email@example.com
Stratasys Public Relations: Arita Mattsoff Phone: +972-74-745-4300 E-mail: Arita.Mattsoff@stratasys.com
SOURCE Massivit 3D Printing Technologies Ltd.