Colour authority Pantone is to be purchased by X-Rite, the supplier of colour measuring, formulating, matching, and simulating systems, in a $180M deal expected to close this autumn.
Pantone, headquartered in Carlstadt, New Jersey, is known for its Pantone Matching System for identifying, matching and communicating colours to solve reproduction problems in the graphic arts market. The company generated revenue of approximately $42M in 2006, selling its products, services and technology directly, and through hundreds of licensees in over 100 countries.
"Larry Herbert and his team have built Pantone into a very successful business and we are delighted that it will now be part of the X-Rite family," says Tom Vacchiano, ceo of X-Rite. "This iconic brand is the perfect complement to our business. We are confident that we can successfully blend the Pantone integration with our existing responsibilities as we evolve into a faster growing, more diverse business."
Pantone will become a new business unit within X-Rite, and its current management will continue in the organization.
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