Last December, we told you that it was possible merger of Hybrid Software and its competitor Global Graphics . Global Graphics has completed the acquisition of Hybrid Software from Congra. The transaction, which was approved by shareholders at the annual general meeting on Friday, January 8, 2021, was financed by the issuance of Global Graphics shares to Congra for Euro 80 million.
This acquisition gives rise to 40 million euros in sales as of December 31, 2009 "leading provider of enterprise software for digital printing." according to Guido Van der Schueren, Chairman of Global Graphics and also Chairman of Hybrid Software.
The chairman of both groups said: "As the packaging industry continues its migration to digital printing, there are huge opportunities for Global Graphics' hardware and software solutions, so integrating Hybrid Software into the group will help us increase our share in labels and packaging" .
Hybrid Software, which specializes in the development of software for the graphic arts industry, particularly for labels and packaging, becomes the fourth subsidiary of the UK-based Global Graphics Group, joining Global Graphics Software, Meteor Inkjet and Xitron.
The acquisition doubles the size of the workforce of the British publisher listed on the European stock exchange with 250 employees. The transaction also adds several other sites to the group with offices in Luxembourg, Belgium, Germany, Italy, France and the United States.
The two groups have already been working together for several years. In particular, Hybrid Software is integrating the Harlequin RIP developed by Global Graphics into its Cloudflow workflow, and recently it has been collaborating at the technical level with Global Graphics Software on the digital front-end (DFE) Fundamentals interface.
Hybrid Software's preliminary sales for fiscal year 2020 are approximately 17 million Euros and earnings before interest, taxes, depreciation and amortization (EBITDA) of 5.5 million Euros. Global Graphics is forecasting sales of Euro 22.5 million for 2019.
