CAMBRIDGE, England--June 2, 2005-- Today Dainippon Screen Mfg. Co., Ltd (Kyoto, Japan) announces that it has acquired Inca Digital Printers, the specialist wide-format digital inkjet printer manufacturer, in an agreement totaling UK pounds 30 million (Euro 43.8m).
The acquisition is the latest phase in the ongoing expansion of Dainippon Screen's digital printing business and, effective immediately, Inca Digital becomes a wholly owned subsidiary of the company.
In 2001 Inca Digital shipped the world's first commercial digital flatbed printer and since then the company has remained at the forefront of development in the wide format digital inkjet industry. The company has established a formidable reputation for quality, reliability and performance and built a successful global distribution network for its innovative Eagle, Columbia and Spyder inkjet printers with Fujifilm Sericol.
"This is a highly strategic investment for us", said Akira Ishida, Dainippon Screen's Chairman and President. "The impact of digital inkjet technologies on the conventional print market is accelerating and Inca's technology complements our existing digital imaging and printing products perfectly. Significantly, Inca's expertise gives us access to important new markets in industrial printing and packaging. By combining Inca's expertise in wide format inkjet printing, with Screen's considerable experience in the media technology, semi-conductor and flat-panel display industries we can further strengthen and grow Inca and Dainippon Screen's businesses, while working together to develop new applications across multiple sectors in the future."
"As a firm backed by venture capital we have been looking for the right company with which to partner. Dainippon Screen is a great parent for us", says Bill Baxter, Managing Director of Inca Digital. "There is real synergy between us and the acquisition will enable us to develop profitable applications in totally new areas. Screen fully supports our development and commercial strategies and our commitment to existing partnerships and together we will continue to strengthen these agreements in the future."
The company will operate as Inca Digital (a member of the Dainippon Screen Group of companies) from its existing headquarters in Cambridge, UK with no change to the current management team and staff.
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