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X-Rite acquires Gretag Macbeth - X-Rite, Incorporated will utilize colour science and technology knowledge to increase value for all stakeholders and expand global colour market through innovation.
X-Rite, Incorporated, today 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 colour 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 colour industry
- Accelerating technology innovation
- Building the strongest talent pool in the industry
- Generating significant synergy potential
Organization of the Combined Entity:
A strong team of X-Rite and GretagMacbeth executives lead the combined organization. Michael C. Ferrara is the CEO, Thomas J. Vacchiano, Jr. is the President and COO, Mary E. Chowning is the CFO, and Dr. Francis Lamy is the CTO. The X-Rite Board of Directors is now comprised of nine members, including six current directors of X-Rite and three former directors of Amazys Holding AG.
“I am confident that the new X-Rite Board of Directors and senior management team under the leadership of Michael C. Ferrara, CEO, will ensure that X-Rite excels in every aspect of the business. The combined company is poised to lead the future of the color industry and maximize shareholder value,” said John Utley, X-Rite Chairman.
The global headquarters for the combined entity is in Grandville, Michigan, with European Headquarters in Regensdorf, Switzerland, and Asia Pacific Headquarters in Hong Kong. X-Rite will be represented by the new logo that appears on this page, incorporating the core colours of both companies, and symbolizing how our shared values and goals will drive this new company.