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Oct 18, 2001 12:00 AM
Kodak Polychrome Graphics (KPG) (Norwalk, CT) has reached a definitive agreement with Imation Corp. (Oakdale, MN) to acquire its worldwide color-proofing and color software businesses for $50 million in cash.
Under terms of the agreement, KPG will acquire Imation’s full portfolio of color-proofing, film, plate and color software offerings, and the company’s Color Technologies manufacturing facility in Weatherford, OK. Approximately 500 employees will transfer from Imation to KPG as part of the transaction, which is expected to close by the end of 2001.
The acquisition includes the full line of Matchprint brand products and proofing systems, Verifi Accurate Web Color, the Color Fidelity Module, ColorKey and Rainbow proofing systems models 2040/4700. Upon completion of the deal, Imation customers will continue to receive film and plate products from KPG.