Global Graphics SE : Global Graphics acquires TTP Meteor Limited
05 Décembre 2016 - 6:00PM
PRESS RELEASE -
REGULATED INFORMATION
GLOBAL GRAPHICS
ACQUIRES TTP METEOR LIMITED.
Cambridge (UK), 5
December 2016 (18.00 CET): Global Graphics SE (Euronext: GLOG)
the developers of software for digital printing including the
Harlequin RIP®, announces
today that it has acquired the entire issued share capital of TTP
Meteor Limited ("Meteor"), specialists in printhead driver systems,
from the TTP Group plc ("TTP") based near Cambridge, UK.
Meteor enables industrial inkjet,
graphic arts and commercial printing applications through the
provision of world-leading drive electronics and software.
Through strong relationships with industrial inkjet printhead
manufacturers including Fujifilm Dimatix, Konica Minolta, Kyocera,
Ricoh, SII Printek, Toshiba TEC and Xaar, Meteor supplies
production-ready electronics and software to print equipment
manufacturers world-wide.
TTP has been involved in
developing leading edge printing technologies since 1987.
From 2006, printhead drive electronics have been supplied under the
Meteor brand. With this acquisition, Meteor becomes a wholly-owned
subsidiary of Global Graphics SE. Meteor will operate as an
independent, standalone entity and will continue to be led by Clive
Ayling who has developed Meteor into a successful business.
It is expected that the company name will change from TTP
Meteor Limited to Meteor Inkjet Limited.
Gary Fry, Global Graphics' CEO
said, "Meteor has established itself as an influential player in
the inkjet market and has a deep understanding of the science and
engineering underpinning digital printing. This acquisition
is strategically important for Global Graphics because it means we
can offer a broader solution to inkjet press manufacturers by
combining our software solutions with Meteor's industrial printhead
driver solutions.
"Healthy growth is predicted for
the inkjet segment of digital printing where there continues to be
a vast amount of innovation as jetting technology is applied to an
increasingly diverse range of applications such as ceramics,
textiles or décor. Global Graphics is already emerging as an
important partner to the industry's leading manufacturers and
Meteor adds to our capability, making us a very compelling
proposition in the market. We already share joint customers
and our goal is to substantially grow this base."
Clive Ayling, Meteor's managing
director said, "Meteor has an established record of success in
delivering robust and reliable printhead driving solutions for a
myriad of applications. Global Graphics values this success
and recognizes the importance of our independence in delivering the
diverse range of solutions our customers require. We are
looking forward to working with Global Graphics to accelerate the
growth of our business whilst we continue to deliver the
world-class products and support that our customers have come to
expect."
Rob Day, TTP's head of print
technology said, "having nurtured Meteor through its initial
technology and IP development phase into a mature and profitable
business, we are delighted to see it become a subsidiary of Global
Graphics. There is immense strategic synergy between the two
companies. This will allow the Meteor team to broaden its offering
to existing customers, and accelerate the acquisition of new ones.
TTP's Print Technology Division will continue to develop novel
printing systems and print technology, and looks forward to working
with Meteor's products in future systems integration projects."
Consideration for the acquisition
is £1.2 million in cash followed by a maximum deferred
consideration of £3.6 million. The deferred consideration is
payable in cash and is contingent on revenue during the ten year
period from 6 December 2016 until 31 December 2026.
For the year ended 31 March 2016,
Meteor generated sales of £2.5 million and a loss before tax of
£0.2 million. For the eight months ended 25 November 2016
Meteor's management accounts showed sales of £2.5 million and a
profit before tax of £0.3 million. The acquisition is
expected to be earnings enhancing in the financial year ending 31
December 2017.
Ends
About Global
Graphics
Global Graphics (Euronext: GLOG) http://www.globalgraphics.com is a
leading developer of software platforms on which our partners
create solutions for digital printing, digital document and PDF
applications. Customers include HP, Corel, Quark, Kodak and
Agfa. The roots of the company go back to 1986 and to the
iconic university town of Cambridge, and, today the majority of the
R&D team is still based near here. There are also offices
near Boston, Massachusetts and in Tokyo.
About
Meteor
With offices near Cambridge, Meteor (http://www.meteorinkjet.com)
is the leading independent supplier of industrial inkjet printhead
driving solutions. Working closely with all major industrial inkjet
printhead manufacturers, Meteor supplies production-ready
electronics and software to printer OEMs and print system
integrators world-wide.
About
TTP
The Technology Partnership plc (TTP) is a world-leading technology
and product development company. TTP works closely with its
partners to create new business based on advances in technology and
engineering innovation. TTP's technology lies behind many products
and processes in areas as diverse as biotechnology, medical
devices, instrumentation, communications, digital printing,
consumer & industrial products, cleantech and security
systems. Contact: Rob Day, Print
Technology Group Manager, rob.day@ttp.com.
Harlequin, the Harlequin logo, the
Harlequin RIP, are trademarks of Global Graphics Software Limited
which may be registered in certain jurisdictions. Global
Graphics is a trademark of Global Graphics S.E. which may be
registered in certain jurisdictions. All other brand and product
names are the registered trademarks or trademarks of their
respective owners.
Contacts
Jill Taylor |
Graeme Huttley |
Corporate Communications Director |
Chief Financial Officer |
Tel: +44 (0)1223 926489 |
Tel: +44 (0)1223 926472 |
Email: jill.taylor@globalgraphics.com |
Email: graeme.huttley@globalgraphics.com |
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Global Graphics SE via Globenewswire
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