Xaar is expanding its portfolio. On March 3, the £48 million (?58 million) printhead supplier acquired UK-based Megnajet for £4 million (?4.84 million). Megnajet is a leading designer and manufacturer of ink management and supply systems for inkjet printing.
With this operation, Xaar, listed on the London Stock Exchange, intends to offer inkjet printing machine manufacturers "greater integration between inkjet solutions through access to more of the printing ecosystem, including ink delivery systems and electronics." says the group.
The product portfolio of Megnajet, which retains its name, is integrated into the Xaar Group. "Now, as part of Xaar, we will have the expertise, resources and technologies to further develop our ink management and supply systems, benefiting our customers and growing the Megnajet business through this exciting integration." says Mike Seal, who has been named director of the new Megnajet division and was previously responsible for Xaar's advanced applications.
"This acquisition demonstrates another step in our growth strategy as we focus on offering our customers a more integrated inkjet solution, says John Mills, CEO of Xaar. In addition to enhancing Xaar's world-class inkjet expertise, Megnajet's strong reputation for providing compact, easy-to-integrate products within the inkjet industry will open up new opportunities for us with a more comprehensive approach for our customers."
This acquisition is expected to generate additional revenue of approximately £3 million.
