Xerox Announces Sale of Elem Additive Solutions to ADDiTEC
ADDiTEC, a leader in technology innovation of metal additive manufacturing, has announced the acquisition of Elem Additive Solutions from Xerox Holdings Corporation. The acquirement of Elem Additive Solutions follows ADDiTEC’s efforts to focus on the extension of its technology portfolio to increase industrial adoption of Additive Manufacturing.
The acquisition will allow ADDiTEC to expand its reach into Liquid Metal Printing (LMP) technology, strengthening existing capabilities, opening up new opportunities for growth, and enhancing the ability to serve the growing additive manufacturing industry.
Since its foundation, Elem Additive Solutions has been a leader in LMP technology and a key part of Xerox’s culture of innovation. From commercializing the first industrial liquid metal 3D printer to deploying it on a naval vessel, Elem Additive has had a history of firsts. The company’s liquid metal 3D printer, ElemX, was developed to be a safer and simpler solution, addressing supply chain resiliency for transportation, aerospace, defense, and industrial manufacturing.
The shared mission and strong technological synergies between ADDiTEC and Elem Additive Solutions creates a tremendous opportunity to continue to innovate to the next level of liquid metal printing.
“The Elem Additive team has seen tremendous success since the organization was stood up nearly four years ago. In evaluating partners for this sale, it was critical we found a company with a shared mission that would sustain and advance Elem Additive’s innovation into the future. We are confident that ADDiTEC is the right partner and look forward to witnessing both teams’ shared success on the road ahead” stated Steve Bandrowczak, chief executive officer at Xerox.
“We’re very excited to have completed the acquisition of Elem Additive Solutions,” said Brian Matthews, founder and chief executive officer at ADDiTEC. “This acquisition is a significant step for our company, we see incredible value in liquid metal print technology, and Elem Additive’s success supplements our growth efforts as we continue to develop new offerings and bring to market our turnkey metal additive manufacturing systems. We are delighted to have acquired Elem Additive Solutions and will strive to create further innovative services and solutions for our customers with the addition of this exciting liquid metal printing technology.”
Elem Additive customers include Siemens, the U.S. Department of Energy’s Oak Ridge National Laboratory, Rochester Institute of Technology, and Vertex Manufacturing. ADDiTEC will continue to support these customers as the Xerox Elem Additive team transitions to the new organization.
Financial terms of the transaction were not disclosed.
For more information: www.additec3d.com
