X-Rite Acquires Monaco Systems
To offer broader set of color-management solutions
X-Rite, Inc., the Grandville, MI-based manufacturer of color-measurement instruments, has acquired the assets of Monaco Systems, the Andover, MA-based developer of color-management software for the graphic-arts and photo markets. Funded by a combination of cash and stock, the $10.6-million purchase includes Monaco's entire line of color-management products.
According to X-Rite President Michael Ferrara, the Monaco acquisition is a key component in X-Rite's drive to offer total color-management solutions, integrating Monaco's software with X-Rite's instruments. X-Rite execs believe that the combination of products, global distribution, color expertise and service offerings will enable X-Rite to offer a broader set of color solutions to new and existing customers.
Monaco Systems was founded in 1993 by George Adam. Adam and his staff will be joining the X-Rite organization. In a statement to Monaco customers, Adam said, "During the past year, X-Rite has proven to be a very compatible partner. Their high-quality instruments and name recognition in the graphic-arts marketplace, combined with our innovative software has fueled the demand for color-management solutions. Now, with the power of X-Rite's global presence and dedication to the graphic-arts industry, Monaco is poised to expand and enter new markets." He adds, "Under the new arrangement, Monaco Systems will continue to develop and manufacture state-of-the-art software solutions. There will be no immediate change in the purchase or support of Monaco products." (X-Rite, Inc.: www.x-rite.com/monaco)