Danaher acquires X-Rite
Danaher has entered into a merger agreement with X-Rite by making a cash tender offer to acquire all of the outstanding shares of common stock of X-Rite for an enterprise value of approximately $625 million, including debt assumed and net of cash acquired.
11 Apr 2012 | By Supreeth Sudhakaran
X-Rite is a global leader in colour measurement technology. The company, which includes design industry colour provider Pantone, develops, manufactures, markets and supports colour solutions through measurement systems, software, colour standards and services.
"We are excited about the opportunity to acquire two premier brands in X-Rite and Pantone," said William K Daniel, executive vice president, Danaher.
"Colour measurement is an attractive market adjacency to our existing Product Identification businesses.X-Rite's colour measurement technologies complement Esko's digital packaging design capabilities to provide customers with a full range of solutions to meet their packaging and design needs. Along with Videojet and Esko, we believe X-Rite and Pantone will further Danaher's leading position in the industry and present an attractive value creation opportunity."
The transaction is expected to be completed during the second quarter of 2012. Upon closing, X-Rite will be part of Danaher's Product Identification group.
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