Global Graphics agrees to sell URW Type Foundry GmbH
Cambridge-based Global Graphics PLC, which is quoted on the Euronext Brussels stock exchange, has agreed to sell the entire issued share capital of URW Type Foundry GmbH to German business Monotype GmbH, a wholly owned subsidiary of Monotype Imaging Inc.
Completion of the sale is subject to certain closing conditions, which are expected to be met at the end of May. Consideration of €7.5 million plus/minus an adjustment for retained cash and working capital at closing is payable in cash in instalments.
Through its operating subsidiaries, Global Graphics PLC is a leading developer of platforms for digital inkjet printing and type design and development.
Customers for digital inkjet technology include press manufacturers such as HP, Canon, Durst, Roland, Hymmen and Mark Andy. Those for font design include numerous international brands, from manufacturers such as Mercedes Benz and Siemens, to digital media and epublishing companies.