X-Rite Completes Acquisition Of Amazys Holding For $280 Million

GRANDVILLE – X-Rite, which makes color measurement hardware and software, said it completed a plan Wednesday to acquire Swiss competitor Amazys Holding AG for $280 million.

In a proxy filing, X-Rite said it issued 7.2 million shares of stock, or about 34 percent of its currently outstanding shares, in connection with the offer.

X-Rite said that it expects to incur cash restructuring costs totaling about $20 million during the first three years. The transaction is expected to be accretive to X-Rite’s cash EPS during year two of the combined operation.

The company added that the major benefits of acquisition are expected to include creation of a global market leader in the color industry, accelerating technology innovation, building the strongest talent pool in the industry and generating significant synergy potential.

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