X-Rite Inc., Grandville, Mich., and Amazys Holding AG, Regensdorf, Switzerland, two leading providers of color-measurement solutions comprising hardware, software and services for the verification and communication of color data, have entered into a definitive agreement under which X-Rite will offer to purchase all of the outstanding registered shares of Amazys Holding AG for a purchase price of approximately $280 million or CHF 77 per share plus 2.11 shares of X-Rite stock per share. Amazys develops, markets and supports hardware, software and services to measure and communicate color under the GretagMacbeth brand.

The combined company expects to achieve approximately $25 million of annual operating-expense savings in connection with the transaction in year three, with combined gross margins of approximately 63 percent. During the first year, the company has plans to incur restructuring costs of approximately $20 million.

The transaction is expected to be accretive to X-Rite's EPS during year two of the combined operations.