X-Rite, Inc., a provider of color solutions for measuring, formulating, matching, and simulating color, has entered into a definitive agreement to purchase Pantone, Inc. for $180 million. The deal is expected to close in the fall of 2007.
Pantone, Inc., headquartered in Carlstadt, New Jersey, is an authority on color inspiration for the design world with the PANTONE MATCHING SYSTEM, an innovative 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, including paint and coatings. Pantone generated revenue of approximately $42 million in 2006 with adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of approximately 27% of revenue. Pantone 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.
For more information, visitwww.xrite.comorwww.pantone.com.