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
“Our new company combines top notch talent,
technology and products in the colour industry,
said Michael C. Ferrara, X-Rite CEO. “We expect our
expertise, talent and technology to help us expand the global colour
market through innovation.
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.