Gretag, Professional Imaging Division Acquired by Oce N.V.
Press release from the issuing company
SAN JOSE, Calif.--Nov. 9, 2001--Gretag Imaging Group Inc. and Oce N.V. a major supplier of Professional Document Systems, have reached an agreement on Oce's acquisition of Gretag's Professional Imaging Division, composed of Raster Graphics, Onyx Graphics, Cymbolic Sciences and ANAgraph. This Division develops, manufactures and sells products for wide format color inkjet and photo laser printing, including raster image processors (RIPs), for indoor as well as outdoor applications.
Under the agreement Oce will purchase the shares of Raster Graphics, Inc. (USA) as well as the business-related assets of Raster Graphics' subsidiaries in Canada, the United Kingdom and Germany. Raster Graphics, Inc. (USA) is the holding company for the Professional Imaging Division.
As Gretag Professional Imaging Division has a strong position in the Large Format Digital Printing market, the acquisition will greatly strengthen Oce's presence in terms of technology and distribution outlets in this strategically important and fast-growing market. This market, called Display Graphics within the Oce organization, includes products that enable the production of color graphics in large formats. Typical applications include trade show graphics, banners, and bus shelter posters, backlit displays in airports, point of sales graphics in shops, fleet graphics on trucks or buses, digital photo enlargements, etc.
The customer groups of both Oce and the Professional Imaging Division complement each other to a large degree. Oce maintains a strong position among blueprinters, copy shops and in-house printing departments. The Professional Imaging Division has a strong presence among digital printers, photo labs, screenprinters and sign makers.
Once the merger is finalized, the Gretag Professional Imaging Division will be known as Oce Display Graphics Systems, which will be part of Oce's Wide Format Printing Systems strategic business unit. Rak Kumar will continue to manage the new Oce Display Graphics Systems organization as its CEO.
The global market for the Mid- and High-Volume Display Graphics segment projects an expected annual growth rate of 15 percent. With this acquisition, Oce emphasizes its aim to be a strong player in this segment of the Display Graphics market. Oce holds a very strong position in black and white wide format printing.
"This acquisition is accelerating the rapid growth we are experiencing in this market today,'' said Michel Frequin, executive director of Oce's Strategic Business Unit WFPS (Wide Format Printing Systems). "It confirms and strengthens our position in the Display Graphics market. The integration of the acquired division provides synergy, facilitates availability of new products to existing as well new customer groups. This acquisition underlines our strategy to become a leader in the Display Graphics market.''
Revenues of Gretag Professional Imaging Division for the fiscal year 2000 amounted to US$ 105 million. The division has 450 employees, of which 90 are active in research and development.
The parties have agreed not to disclose the purchase price. Closing of the transaction is expected to take place the next couple of weeks. Filing of the transaction with the appropriate anti-trust authorities has taken place.
About the Professional Imaging Division
The Professional Imaging Division's mission is to be one of the leading suppliers of application-specific equipment, software, services and consumables for wide format digital printing; and computer-to-plate solutions for web and offset printing. The Professional Imaging Division brings together leaders in large format technologies, including ANAgraph, Cymbolic Sciences, Onyx Graphics and Raster Graphics, to offer a range of solutions specifically designed for the print-for-pay, large format service provider, and commercial printer.
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