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Jun 18, 2001 12:00 AM
PrintChannel.com (San Francisco) has reached an agreement to buy
key technology assets from MediaFlex, which ceased operations in
February of 2001. In conjunction with this asset purchase, the
company also announced a new round of funding from Warburg, Pincus
Equity Partners, L.P.
"Before MediaFlex ceased operations, it had been developing
print procurement technology that is highly complementary to the
printChannel solution. By merging the two technologies,
printChannel.com will solidify its position," states Oliver Pflug,
CEO of printChannel.com. "We are particularly pleased that, as part
of this purchase, Warburg, Pincus Equity Partners, L.P. has
increased its financial commitment printChannel.com."
The technology purchased by printChannel.com will enable the
creation of a supplier controlled network of print producers whose
products form a single catalog accessible by corporate users.
"Print suppliers will have the capability to address most
procurement needs of their corporate customers through a single
point of access. The ability to tie together multiple production
locations, or supplier networks will be of particular interest to
large printers, distributors, brokers and Facilities Management
companies," said Pflug.
As part of this purchase, printChannel.com has hired key members
of the MediaFlex technical team.
The company announced that it plans to showcase the combined technologies as early as Print 01 this September.