X-Rite Inc., Grand Rapids, Mich., and Pantone Inc., Carlstadt, N.J., have entered into an agreement
whereby X-Rite will acquire Pantone for $180 million. Pantone will become a business unit within
X-Rite, and current Pantone executives will continue to have key roles in the new unit.
X-Rite — a developer and provider of color measurement and management software and services
for industries including textiles, printing, packaging and plastics, among others — hopes to extend
its product range with the addition of Pantone’s color standards, while expanding the reach of
those solutions using X-Rite’s international presence and distribution abilities.
Pantone products include the Fashion + Home Color System, a catalog of 1,925 colors for
fashion and home textile applications; and huey™ technology, which calibrates and profiles all
types of computer monitors for more accurate color viewing. X-Rite provides the technology for the
huey system, which is branded and sold exclusively by Pantone.
The deal is expected to close in the coming months, and will be funded with cash financed
through a number of institutions. A debt package of up to $415 million will be used to fund the
transaction and finance X-Rite’s existing debt.
“Pantone and X-Rite have enjoyed a strategic partnership in providing color management
solutions for the digital imaging market for the last two years,” said Larry Herbert, CEO, Pantone.
“Our company is wholly committed to color communication and inspiration and we are enthusiastic
about combining our growing business with X-Rite to apply even greater resources to this work.”
August 28, 2007