Gandi Innovations has been operating under CCAA protection in Canada and Chapter 15 in the USA since May this year and the acquisition by Agfa is subject to regulatory and court approval and the successful closing of the transaction. The price of the acquisition has not been disclosed and it will have no major impact on Agfa’s financial debt the acquirer said in a statement.
Between 2001 and 2009, Gandi Innovations built up a large installed base of inkjet printing engines, reaching a sales peak of US$127m in 2008. Sales suffered strongly due to the economic downturn in 2009 and the uncertainty surrounding the company.
Founded in 2001, Gandi Innovations has its headquarters and production facilities in Mississauga, Canada and employs 256 skilled staff.
The planned acquisition of Gandi Innovations by Agfa together with recent announcements on Agfa Graphics’ :M-Press Tiger industrial flatbed inkjet press and the launch of new printing engines in the :Anapurna large format range, is further evidence of substantial investment in inkjet technology by Agfa.
Richard Barham, vice president Inkjet at Agfa Graphics, says, “the acquisition of the assets of Gandi Innovations strengthens Agfa Graphics’ leadership in large format inkjet printing systems.
“The combination of Gandi Innovations’ products and Agfa Graphics’ products will result in substantial growth for our inkjet business based on an even more complete system portfolio.
“This is an important step in implementing our Inkjet growth strategy. As our own portfolio consists of entry-level and high-end inkjet systems, Gandi Innovations’ mid-range systems are a 100 per cent complementary fit with our existing inkjet technology”.
Gandi Innovations’ CEO and co-founder, Hary Gandy, states, “Joining Agfa Graphics offers Gandi Innovations’ staff and customers tremendous opportunities for the future. The combined capabilities and coverage in customer service and research and development will accelerate the launch of new products, deliver new business opportunities and further expand our service to our customers”.
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