Color solutions provider X-Rite acquires Amazys Holding AG
18 Jul '06
3 min read
X-Rite Incorporated, a global leader offering color measurement technology solutions, announced the completion of its acquisition of Amazys Holding AG for a purchase price of CHF 77 per share plus 2.11 shares of X-Rite, Incorporated stock for each Amazys share. The total purchase price on the settlement date of July 5, 2006 was approximately $280 million.
The acquisition was financed through a combination of cash, debt and X-Rite stock. Amazys develops, markets and supports hardware, software and services to measure and communicate color under the GretagMacbeth brand. The combined company will be called X-Rite, Incorporated.
The Major Benefits of the Acquisition Are Expected to Include:
Creating a global market leader in the color industry
Accelerating technology innovation
Building the strongest talent pool in the industry
Generating significant synergy potential
The combined company expects to achieve approximately US$25 million of annual operating expense savings in connection with the transaction in year three. The company expects to incur cash restructuring costs totaling approximately US$20 million during the first three years. The transaction is expected to be accretive to X-Rite's cash EPS during year two of the combined operations.
“Our new company combines top notch talent, technology and products in the color industry,” said Michael C. Ferrara, X-Rite CEO. “We expect our expertise, talent and technology to help us expand the global color market through innovation.”
marketing@alchempro.com
