Xante to acquire RIPit Imaging Systems and Exxtra Imaging Systems
Press release from the issuing company
March 1, 2007--Xante announced today that it is in the process of acquiring, in separate transactions, RIPit Imaging Systems, Inc. (Sacramento, CA) and Exxtra Imaging Systems, Inc. (Hauppauge, New York). The companies have agreed on financial terms of both acquisitions, funds from Xante are in escrow and the transactions should be completed on or about March 9, 2007.
RIPit Imaging Systems, Inc. provides innovative and powerful software RIPs (Raster Image Processors) designed for pre-press and graphic imaging markets. Exxtra Imaging Systems, Inc. develops and produces high quality metal, polyester and film CTP (Computer to Plate) imaging equipment.
The acquisition will allow Xante to better serve the similar customer base of all three companies by providing a more comprehensive range of products and software solutions to the professional imaging markets. These acquisitions allow Xante to expand its product offerings to professional printers in over 100 countries, making it one of the most complete line of prepress products in the industry.
"Xante is constantly developing new technologies for future expansion and growth. Once we determined Xante could accelerate its entry into the Violet CTP market by adding the people and products of RIPit and Exxtra to the Xante family, we did not hesitate. Both companies have solid reputations and significant technology portfolios," said Robert Ross, President and CEO of Xante Corporation. "Xante now has one of the strongest line of CTP products in the industry as a result of the combined product offering of the three companies. The collective design resources will lead to even more innovative CTP solutions, software RIPs and professional imaging systems."
The combination of intellectual property, technology assets and people with decades of industry experience will allow Xante to expand its market reach to printing professionals around the world looking for process color workflow solutions. The assets of Xante, RIPit, and Exxtra create a synergy that will result in a larger, more diverse offering capable of spawning new business opportunities via a large base of worldwide distributors and dealers. Xante has both the resources and financial strength to enable the newly combined companies to rapidly expand its market presence and increase the speed it brings innovative products to market.
The Xante product line now encompasses chemical and process-free solutions such as the Impressia Metal PlateSetter and PlateMaker 5 which deliver metal and polyester plates for short to medium run lengths as well as larger format violet metal plate and polyester imaging devices driven by OpenRIP(R) Symphony. Its Adobe(R) PostScript(R) 3(TM) RIP features a multi-device, multi-task workflow designed to automate prepress production and eliminate human error. Symphony's multi-device functionality allows every device in the print shop including platesetters, imagesetters, laser printers, digital copiers, inkjet printers and plotters to be controlled from a single RIP for true workflow consistency.
"I'm excited about the opportunities to advance the technologies designed by RIPit with Xante's resources and commitment to growth and innovation," said Wayne Wasulko, President of RIPit Imaging Systems, Inc. "I will now have the time to follow my passion and focus my energies on the development of leading edge software RIP solutions as well as expanding our presence and product offering in the pre-press market."
"These newly combined companies are poised to significantly influence the future direction of the CTP industry," said Michael Sterflinger, President of Exxtra Imaging Systems, Inc. "I am very excited to be joining forces with Xante who has a well established and successful world-wide sales and marketing organization and distribution channel."
Management of the company includes executives from both organizations. Robert C. Ross, Jr. continues as President and CEO. Wayne G. Wasulko of RIPit has joined Xante as VP of RIP Development. Michael R. Sterflinger of Exxtra has joined Xante as VP of Technology.
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