Global Graphics PLC (Euronext: GLOG) announces today that on Thursday 7 November 2019 it acquired Xitron, LLC (“Xitron”), a prepress solutions company headquartered in Ann Arbor, Michigan, USA.
Xitron develops workflow systems and interfaces to drive the prepress industry’s most popular output devices. One of Global Graphics Software’s longest standing partners, it has been building solutions around the Harlequin RIP® since 1991 to drive hundreds of different models of imagesetters, proofers, platesetters, inkjet printers, and digital presses.
With customers around the world, including North and South America, China and Japan, the Harlequin-based Xitron Navigator RIP enjoys an international reputation. In recent years Xitron has been steadily increasing its footprint in production inkjet with its Navigator driven digital front end (DFE) which supports drive electronics from Meteor Inkjet and Global Inkjet Systems and drive all Memjet and Canon Finetech heads directly.
Gary Fry, CEO of Global Graphics says “Xitron is the lead player in pre-press RIPs with some 35,000 Harlequin RIP-based installations around the world and an impressive network of dealers and distributors. This acquisition allows us to further develop our digital print strategy with a more complete offering for industrial inkjet, such as textiles and décor, and with a broader range of pre-press components for digital applications.”
Karen Crews, president of Xitron, comments, ““Having developed prepress software solutions around the Harlequin RIP® for nearly 30 years, Xitron is looking forward to the collaboration and growth opportunities associated with this change. As we continue to expand beyond our well-established presence in offset, flexography, screen printing, and high-speed inkjet, we’re excited to be a key part of Global Graphics’ strategic initiatives.”
Consideration for the acquisition is $4.5 million in cash, paid in full on closing.
For the year ended 31 December 2018 Xitron recorded revenue of $4.77 million and EBITDA of $0.47 million and for the six months to 30 June 2019 revenue of $2.43 million and EBITDA of $0.32 million.