Stratasys Expands Its Presence in Japan Through Fasotec Acquisition
3D Printing Leader Exercises Option to Acquire Fasotec Minority Interest in Stratasys Japan
Stratasys Asia Pacific, a subsidiary of Stratasys Ltd, announced that it plans to exercise the option to acquire the remaining holdings of Fasotec in Stratasys Japan. Following the exercise of the option, Stratasys Japan will become a wholly owned subsidiary of 3D printing giant Stratasys Ltd., departing from a joint venture previously established by Objet.
“We witness strong growth in the 3D printing market in Japan. Stratasys is positioned to invest more on infrastructure in order to build awareness and a strong foundation to support our customers, partners and the industry,” said Jonathan Jaglom, General Manager of Stratasys AP. “We wish to sincerely thank our partner, Fasotec, for their years of commitment in the partnership, which helped create new opportunities in the market for us.”
Stratasys a leading manufacturer of 3D printers and production systems for prototyping and manufacturing.
Stratasys Japan will continue to market and sell the Stratasys product offering under Stratasys’ direction. Further, Stratasys Japan will have full ownership of the installed base and its related service contracts. This move reinforces Stratasys’ commitment to overall business coverage in Japan, and expands its local industry footprint.
The decision by Stratasys to exercise the option stems from its belief that this will allow Stratasys to better prepare for future growth in the rapidly expanding Japanese market.
“The 3D printing industry is growing rapidly in Japan. By exercising the option under the JV agreement and acquiring full ownership of Fasotec, we will complete a smooth transition to a wholly owned subsidiary committed to continuing to provide best-in-class 3D printing solutions, services and technologies that are suitable for the Japan market,” said Eric Goguy, CEO & President of Stratasys Japan.