January 31, 2006
In an email sent to color consultants today, GretagMacbeth announced their intention to merge with X-Rite. From the email:
It is my pleasure to share with you some exciting news. Today, we are announcing our intent to join forces with X-Rite, also a recognized leader in the color industry.
Combining GretagMacbeth and X-Rite will enable us to unite the best-of-the-best in terms of product innovation, service and support, and talent. Our opportunity to deliver exceptional customer value from this combination increases exponentially. I could not be more thrilled with the prospects that lie ahead.
Combining our R&D, sales and marketing resources will be a major driver for new innovation and growth in the combined company. The joining of the two companies will provide the scale, market reach and talent never before enjoyed in the color management solutions markets.
While X-Rite will acquire the shares of Amazys Holding AG, the parent company of GretagMacbeth, for cash and stock, the spirit of the deal is one of a “merger”. The CEO of X-Rite, Mike Ferrara, will continue as CEO. I will become President and COO of the combined company and intended successor to Michael Ferrara, subject to approval by the Board of Directors. Mary Chowning will have the role as CFO and Francis Lamy will become CTO. We are very excited about having an opportunity to lead in this new situation.
We at GretagMacbeth understand you will have questions about what this means for the GretagMacbeth products and solutions you have come to rely upon. In the short-term, GretagMacbeth and X-Rite will continue to operate as separate companies. We will remain with our own respective products and services, and you will have the same contacts at GretagMacbeth as you do now. We will continue to provide a high level of service and support on existing and future purchases, so you can recommend or purchase GretagMacbeth solutions with confidence.
Following the completion of the transaction, expected in late Spring 2006, we will bring together the best and brightest technologists and marketers from each company to focus on next generation technologies, existing product portfolios and convergence issues. While consolidation naturally occurs when two such organizations unite, I can assure you that decisions will be made in a thoughtful, measured manner keeping all of our stakeholders in mind.
As we keep you informed along the way, we encourage your involvement, and value your thoughts and input. As is our tradition at GretagMacbeth, we will solicit your active participation in our product development cycles based on your area of expertise. We are very excited that Francis Lamy has agreed to be our CTO and chief driver of new technology. As you are probably aware, Francis has been extremely instrumental in bringing our Eye-One technology to market and we anticipate an accelerated rate of new advances under his leadership.
Please feel free to contact any of our marketing or sales managers with any questions or concerns. Details about the announcement may be found on our web site at gretagmacbeth.com/announce .
I would like to thank you for your ongoing support and the opportunity to further demonstrate how truly committed we are to seeing our industry flourish. The best is yet to come!
Thomas J. Vacchiano Jr.