Domino acquires PostJet Systems
Domino Printing Sciences, a global leader in the development and manufacture of printing technologies, has announced the acquisition of 100 percent of the shares in PostJet Systems.
PostJet|, based near Basingstoke, UK, develops, manufactures and sells a range of ink jet printing equipment designed specifically for high-speed postal applications. Recognised for its progressive technologies as an Innovation Award Winner in 2011, PostJet’s systems meets the needs of envelope communications in the mailing sector, and have been adopted by postal authorities worldwide, with over 800 installations.
Nigel Bond, group managing director of Domino Printing Sciences plc commented, “We are delighted to announce the acquisition of PostJet, a UK company that, along with OEM partners, has been successful at gaining market share through offering high-performing, cost-effective coding solutions. The global postal market is large and while postal volumes are in decline, there is still a major opportunity to grow share across a range of applications. PostJet has leading technology in the sector and will further strengthen Domino’s digital printing capability.”
Operating as an independent company within the Domino Group, going forward, PostJet will benefit from the Group’s support and resources to broaden its existing product range through product enhancements as well as new technologies.
The initial purchase price is £6.5 million, satisfied from Domino’s existing cash resources. Net cash in the business will be paid out to the sellers. Additional deferred contingent consideration is payable based upon performance of the business over a three-year period.
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