GretagMacbeth Signs Letter Of Intent to Acquire Sequel Imaging
Press release from the issuing company
New Windsor, NY -- March 3, 2003 -- GretagMacbeth announced today that they have signed a letter of intent to acquire Sequel Imaging of Londonderry, New Hampshire. Both parties have negotiated a definitive agreement, which is now pending board approval. The acquisition is expected to be complete within the next week. Founded in 1989, Sequel Imaging has focused strictly on the problem of measuring color and light from displays. With their extensive color-science expertise, they have created unique approaches to managing color on CRT, LCD and other types of luminescent displays. Sequel products target three major market segments, including desktop imaging, medical display applications and home entertainment. Major customers include Sony, NEC-Mitsubishi, Barco, Monaco and LaCie.
Upon completion of the transaction, Sequel Imaging will become GretagMacbeth's Center of Excellence for display sensors. The three principals, Nick Milley, Tom Lianza and Dave Lutz will continue to lead the business, which will remain in New Hampshire. At the same time, the three principals will play key roles within the GretagMacbeth Digital Imaging organization to further expand the company's penetration in the display business.
"We believe that the acquisition of Sequel Imaging will help us make color management for displays so simple that it becomes transparent. Achieving this goal will open even more doors to the display business for us," says Francis Lamy, Executive Vice President and Chief Technology Officer at GretagMacbeth AG. "We have identified the display business as an important strategic initiative for us, as we believe it is the face of the new digital economy."
Adds Nick Milley, President of Sequel Imaging, "We are very excited to become a part of GretagMacbeth. Marrying our sensor technology with their color management software know-how is a powerful combination, as we have already demonstrated through our collaboration on the Eye-One Display. In addition, we have a huge opportunity to leverage GretagMacbeth's sales and marketing capabilities, especially their OEM team."
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