- May 16, 2012
WASHINGTON, DC | Danaher Corp. has entered into a definitive merger agreement with X-Rite pursuant to which Danaher will acquire X-Rite by making a cash tender offer to acquire all of the outstanding shares of common stock of X-Rite at a purchase price of $5.55/ share, for an enterprise value of approximately $625 million, including debt assumed and net of cash acquired.
X-Rite is a global supplier of color measurement technology. The company, which includes design industry color provider Pantone, develops, manufactures, markets, and supports innovative color solutions through measurement systems, software, color standards, and services. Upon closing, X-Rite will be part of Danaher's Product Identification group.
"We are excited about the opportunity to acquire two premier brands in X-Rite and Pantone," says William K. Daniel II, executive VP of Danaher. "Color measurement is an attractive market adjacency to our existing Product Identification businesses. X-Rite's color measurement technologies complement the digital packaging design capabilities of Esko to provide customers with a full range of solutions to meet their packaging and design needs. Along with Videojet and Esko, we believe X-Rite and Pantone will further Danaher's leading position in the Product Identification industry and present an attractive value creation opportunity."