Headquartered in Carlstadt, New Jersey, Pantone is an authority on colour for the design and print production world
with its Pantone Matching System (PMS) for identifying, matching and communicating
colour.
The company has expanded its colour
matching system beyond the graphic arts to other industries where accurate colour reproduction is critical, including digital technology,
fashion, home, plastics, architecture and contract interiors, and paint.
Pantone generated revenue of approximately US$4m in 2006.
Among the strategic, operational and financial benefits, X-Rite expects the acquisition to deepening its range of offerings by adding Pantone’s colour standards to its own
hardware, software and services solutions
"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 X-Rite’s business bringing Pantone’s expertise and market position in colour
communication and standards to our colour solutions product offerings.
"We believe that this strategic acquisition
will provide value for our shareholders, customers, employees and partners.
"We have proven expertise in integrating sizable, strategic acquisitions into our business,” Vacchiano continued.
"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," Vacchiano concludes.
"Pantone and X-Rite have enjoyed a strategic partnership in providing colour management solutions for the digital
imaging market for the last two years," says Larry Herbert, CEOof Pantone.
"Our company is
wholly committed to colour communication and inspiration and we are enthusiastic about combining our growing
business with X-Rite to apply even greater resources to this work."
Pantone will become a new business unit within X-Rite and current Pantone leaders will continue to play key roles
in the organisation.
