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Printcafe Closes printChannel Acquisition

Friday, November 01, 2002

Press release from the issuing company

Printcafe Software, Inc., Completes Its Acquisition of the Assets and Intellectual Property of printChannel, Inc. PITTSBURGH, Oct. 31 -- Printcafe Software, Inc., the operating system for print(TM), today announced that it has completed its acquisition of substantially all the assets and intellectual property of printChannel, Inc. Printcafe did not assume any printChannel obligations or liabilities other than in connection with certain customer contracts. While terms of the acquisition were not disclosed, Printcafe does not anticipate that the transaction will have a material impact on its pro forma fourth quarter financial results. printChannel, Inc. was a provider of Web-based print procurement solutions to manufacturers, distributors, and brokers of commercial print. Originally headquartered in San Francisco, California, with offices in the U.S. and Europe, the printChannel system is currently used by over 100 commercial printing organizations who, in turn, have set up over 1,200 corporate end users and thousands of catalog print items for online ordering. "We're pleased to have completed the acquisition and look forward to focusing on the needs of the printChannel customers," said Marc Olin, President and Chief Executive Officer of Printcafe. "In a vote of confidence for the transaction, the majority of the printChannel users have already made commitments to move forward with us and the transaction volume through the system continues to grow. "We've been very impressed by how strongly the printChannel customers support the solution," continued Olin. "Quite a few of these printers have built their businesses around this product and see it as a significant competitive advantage. We're excited about the opportunity to enhance it and expand its use."




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