GRAND RAPIDS, MI - X-Rite Inc., a provider of color solutions for measuring, formulating, matching and simulating color, announced that it has entered into a definitive agreement to purchase Pantone Inc., for $180 million.

Pantone, headquartered in Carlstadt, NJ, provides the design world with the Pantone Matching System, a system for identifying, matching and communicating colors to solve color reproduction problems in the graphic arts market. Pantone has expanded its color matching system to other industries where accurate color reproductions are critical. It sells its products, services and technology directly and through hundreds of licensees in over 100 countries in the graphic arts, fashion, home, interior, plastics, architectural, paint, industrial design and consumer markets. Pantone will become a new business unit within X-Rite.