Danaher Corp. (NYSE: DHR), Washington, D.C., has agreed to acquire X-Rite, Inc. (NASDAQ: XRIT), Grand Rapids, MI, for $625 million, including debt assumed and net of cash acquired.
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X-Rite, 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,\” said William K. Daniel II, executive vice president of Danaher. \”Color measurement is an attractive market adjacency to our existing Product Identification businesses. X-Rite’s color measurement technologies complement Esko’s digital packaging design capabilities 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.\”