X-Rite to Acquire Pantone

X-Rite, a provider of color solutions for measuring, formulating, matching, and simulating color, has entered into a definitive agreement to purchase Pantone for $180 million. The deal is expected to close in the fall of 2007.

Pantone, headquartered in Carlstadt, N.J., 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 generated revenue of approximately $42 million in 2006 with adjusted earnings before interest, taxes, depreciation and amortization of approximately 27 percent of revenue. Pantone sells its products, services and technology directly, and through hundreds of licensees.