Econolyst Will Join the Stratasys Services Group and Form the Foundation for Stratasys Strategic Consulting Division to Help Customers Develop Additive Manufacturing Vision & Strategies
MINNEAPOLIS & REHOVOT, Israel — (BUSINESS WIRE) — February 27, 2015 — Stratasys Ltd. (NASDAQ: SSYS), a global leader of 3D Printing and Additive Manufacturing solutions, today announced that the team at Econolyst, a top Additive Manufacturing and 3D Printing consultancy and research firm, will join Stratasys Services Group. Econolyst’s highly skilled team, led by Dr. Phil Reeves, a 20-year industry veteran in the Additive Manufacturing space, will form the foundation of the new Stratasys Strategic Consulting Division. This Division will complement Stratasys’ other Services offerings, which are designed to help customers build their Additive Manufacturing vision and strategy, support implementation and optimize 3D Printing workflows. Stratasys expects the addition of Econolyst to help organizations better understand the value of Additive Manufacturing, increasing adoption over time.
Econolyst offers a broad range of strategic consulting services and support for Additive Manufacturing adoption, education and innovation to a diverse set of global clients. For more than a decade, Econolyst has been helping businesses around the world understand the strategic economic, business, social and environmental benefits of Additive Manufacturing. As part of Stratasys, the Strategic Consulting Division will strengthen the breadth and depth of Stratasys’ Services expertise and capabilities. The Strategic Consulting Division will provide independent, expert consulting around Additive Manufacturing strategy development, ideation and innovation and implementation planning across technologies and solutions. Importantly, it will remain technology agnostic.
The Stratasys Services Group is led by Hanoch Magid, Executive Vice President, Services and Materials. The Group includes:
- The newly founded Strategic Consulting Division to be led by Dr. Reeves;
- The Professional Services Division that helps customers optimize their Additive Manufacturing workflows and identify disruptive onsite opportunities; and
- The Customer Support Division that provides support, maintenance and training to existing customers.
“We believe that Additive Manufacturing technology is poised to enter a new phase of increased adoption in a broad range of industries, disrupting traditional manufacturing processes,” said David Reis, Chief Executive Officer of Stratasys. “Expanding our services offering is a key pillar of our investment plan to capitalize on this opportunity. Stratasys has the unique ability to provide organizations with a broad range of Additive Manufacturing technologies and solutions, coupled with our in-depth process specific expertise. The addition of Dr. Reeves, a thought leader in the industry, and his team will further strengthen Stratasys’ services capabilities, and we are excited to welcome them to Stratasys.”
Stratasys Ltd. (Nasdaq: SSYS), headquartered in Minneapolis, Minnesota and Rehovot, Israel, is a leading global provider of 3D printing and additive and additive manufacturing solutions. The company's patented FDM®, PolyJet™ and WDM™ 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, Solidscape, Stratasys Direct Manufacturing (following the integration of Redeye, Solid Concepts and Harvest Technologies). 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
Note Regarding Forward-Looking Statements
The statements in this press release relating to Stratasys’ expectations of the benefits that it and its customers will receive from the addition of Econolyst, 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 the benefits that Stratasys expects from the inclusion of Econolyst will not materialize, or could be less, than Stratasys currently expects, due to market adoption or other unforeseen reasons; customers will not perceive the benefits provided by the inclusion of Econolyst to be as Stratasys believes them to be; the risk that the integration of Econolyst 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.