Artwork Systems Group develops and distributes professional pre-press software solutions for the graphic arts industry to service the needs of the label, packaging, publication and commercial color printing markets. It has offices in Belgium, France, Germany, Ireland, the United Kingdom, and the United States, with international support structures in Australia, Brazil, Mexico and Singapore.
Target date for completion of the purchase of the initial tranche of 77 per cent of the shares is August 9. Following the acquisition of control Esko will launch a mandatory public offer for all remaining shares and outstanding warrants of Artwork Systems Group at a price of Euro11.50 per share. Subsequent to the completion of the offer, after reopening if any, Esko will launch a buy-out offer, provided it has acquired 95 per cent of the share capital of Artwork Systems Group.
Esko says the strategic rationale for the transaction is clear and founded upon a better utilisation of each company's complementary strengths in the packaging and commercial printing market segments, complementary expert sales and support channels, and global customer bases.
Carsten Knudsen, who is currently the CEO of Esko-Graphics, will become the CEO of the combined group. Guido Van der Schueren, who is currently the chairman of the board of directors of Artwork Systems Group NV, will become the chief commercial officer leading the new group's integrated marketing and sales operations. Together with Carsten Knudsen, Guido Van der Schueren will form the Executive Management Board, and both will serve as executive directors on the Supervisory Board of Esko.
Carsten Knudsen, Esko CEO says, "The combination of Esko and Artwork Systems is a significant milestone in the consolidation of suppliers to the printing and publishing industry. Especially in the packaging segment, bundling the expertise, products and customer networks of both companies creates new and exciting opportunities for supply chain partners to improve collaboration and facilitate integration. Our attention now goes first and foremost to protect our respective customers' investments into our solutions, and to work closely with them to respond to their future requirements."
