Global Graphics has acquired Xitron, a US-based company specialising in prepress solutions, for $4.5 million in cash.
Xitron has worked with Global Graphics since 1991, developing highly successful workflows based around the Harlequin RIP, with solutions for driving a huge range of devices including imagesetters, proofers, platesetters, inkjet printers and digital presses. As such it has customers around the world, from the Americas to China and Japan. In recent years it has also added support for drive electronics from Meteor Inkjet and Global Inkjet Systems and can drive all Memjet and Canon Finetech heads directly.
All this activity is reflected directly in its financial results, with Xitron having earned $4.77 million in revenue for the year ended December 2018, and EBITDA profit of $0.47m, with a further $2.43m revenue and EBITDA profit of $0.32m in the six months up to June 2019.
Xitron will continue to operate as a standalone company. Jill Taylor, marketing director for Global Graphics, says that this acquisition will allow both companies to offer more solutions to the inkjet market, adding: “For instance, with their inkjet expertise, Global Graphics Software will be able to strengthen Xitron’s portfolio by working with them on projects based on Memjet technology. And together we can also use our synergy to more fully develop relationships and product offerings with other companies that build inkjet heads.”
Gary Fry, CEO of Global Graphics, commented: “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.”
This deal clearly fits into Global Graphics strategy of growth through acquisition. In recent years the company has acquired Meteor Inkjet, which develops printhead drive electronics, and the URW type foundry. You can find more details at globalgraphics.com and Xitron.com.