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Nov 9, 2001 12:00 AM
Océ N.V (Venlo, The Netherlands) and Gretag Imaging Group, Inc. (Bellingham, WA) announced Océ’s acquisition of Gretag’s Professional Imaging division. This division develops, produces and sells products for the wide-format display graphics market including color inkjet and photo laserprinters and RIPs for indoor as well as outdoor applications. The acquired division includes the following companies: Raster Graphics, (San José, CA), Onyx Graphics (Salt Lake City, UT), Cymbolic Sciences (Vancouver, BC, Canada) and ANAgraph (Costa Mesa, CA).
The combined 2000 annual revenue of the acquired division was US$ 105 million. The total number of employees is 450 including 90 in R&D. Sales, marketing and service are handled directly in the U.S. In the UK, Germany, and elsewhere, they are handled through a distributor network.
The product portfolio of the acquired division includes:
The "Arizona" family of inkjet printers, globally recognised as the standard for mid volume wide format colour printing
ONYX PosterShop, the leading wide format software RIP
The LightJet family of wide format photo laser printers
PosterGenie Workflow software
Display Graphics constitutes the market for products enabling the production of colour graphics in large formats. Typical applications include billboards, trade show graphics, banners, bus shelter posters, back-lit displays in airports, point of sales graphics in shops, fleet graphics on trucks or buses, and digital photo enlargements.
Michel Frequin, executive director of Océ´s strategic business unit WFPS (Wide Format Printing Systems): "This acquisition is accelerating the rapid growth we are experiencing in this market today. It confirms and strengthens our position in the Display Graphics market. The integration of the acquired division provides synergy and facilitates availability of new products to existing as well new customer groups. This acquisition underlines our strategy to become a leader in the Display Graphics market."
Rak Kumar, currently general manager of Gretag Professional Imaging Division, will be appointed CEO of the new Océ Display Graphics Systems. Rak Kumar observes: "Océ is a strong company with an excellent reputation in the market. We are very happy to become part of Océ, a company with a clear strategy to become a leading player in the display graphics market. This merger will clearly strengthen our division and will enable us to serve our customers and distributors even better than in the past."
Océ intends to integrate the acquired division gradually into the current structure of the strategic business unit WFPS without affecting the strengths of the present distributor network.
Parties have agreed not to disclose the purchase price. Closing of the transaction is planned to take place within the next several weeks. Filing of the transaction with the appropriate anti-trust authorities has taken place.