With the sale, Xerox is divesting a loss-making business unit to focus on core competencies. According to company CEO Steve Bandrowczak, ADDiTEC is a great strategic fit for Elem Additive.
Elem Additive had specialized in metal 3D printing. Its flagship metal printer, ElemX, was promoted as an easy-to-use and secure solution for aerospace, defense and industrial applications. Partners include the U.S. Navy and Rochester Institute of Technology.
“We are pleased that Elem Additive will be part of ADDiTEC in the future,” said ADDiTEC CEO Brian Matthews. According to Matthews, the technology perfectly complements the portfolio. ADDiTEC said it will continue to support existing customers.
The sale is part of a structural adjustment at Xerox. The company previously sold its PARC and Xerox Research Center of Canada research labs. Xerox wants to focus on its core business again after difficult years.
Xerox is a traditional US company based in Connecticut. Xerox was founded in 1906 under the name The Haloid Photographic Company. Xerox became known primarily through the development of the first commercially successful copiers in the 1960s. The company thus revolutionized everyday office life. Today, Xerox is still one of the largest providers of printing and document management solutions in the world. However, Xerox has had to accept heavy losses in this business area in recent years due to digitalization.