ImageX Completes Previously Announced Sale of Extensis To Celartem
Press release from the issuing company
Sale Increases Balance Sheet by Over $9.0 Million
KIRKLAND, Wash., Sept. 16 -- ImageX , Inc., the leading provider of online solutions for distributing, managing and producing sales and marketing materials, today announced that it has completed the sale of Extensis, Inc. to Celartem Technology USA, Inc. for total consideration of $9 million in cash plus an additional $2 million due over the next two years if certain revenue targets are met.
"The sale of Extensis enables us to focus on core application services that enable corporations to increase their sales through more effective use of their marketing support," said Rich Begert, president and CEO of ImageX.
Founded in 1995 and based in Kirkland, Wash., ImageX is the leading provider of online solutions for distributing, managing and producing sales and marketing materials. With six patents issued and more than 40 patents pending, the company's advanced technology reduces costs related to procuring branded communications materials. ImageX's blue chip customer base includes AT&T, Automatic Data Processing (ADP), CB Richard Ellis, GE, Kraft, Merck and Co., Liz Claiborne and many others. More information on the company and its services can be obtained from http://www.imagex.com or by calling 877-682-0880.
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