US-based X-Rite is set to cement its leadership in the colour matching market after agreeing to acquire Pantone for £89.7m ($180m).The deal, announced yesterday (23 August), would add Pantone's industry standard colour matching system and international client base to X-Rite's already formidable pre-press arsenal.
Pantone, which generated £21m profit in 2006, sells its products and services into more than 100 countries across the globe through direct distribution and hundreds of licencees.
X-Rite chief executive Tom Vacchiano said: "[Pantone's] iconic brand is the perfect complement to X-Rite's business, bringing Pantone's expertise and market position in colour communication and standards to our colour solutions product offerings.
"We believe this strategic acquisition will provide value for out shareholders, customers, employees and partners."
Pantone will become a unit within the X-Rite umbrella. The details of the new structure are unclear, though X-Rite said in a statement: "Current Pantone leaders will continue to play key roles in the organisation."
Source: printweek
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