Mergers and Acquistions News
Categories: Hardware
August 26th 2008, 16:56PM
Cambridge-based Domino Printing Sciences (DPS) has agreed to acquire a 95 per cent stake in German thermal inkjet printer manufacturer Alternative Printing Services (APS).
DPS, which is conducting the transaction through its subsidiary Domino Holdings Deutschland, has agreed to pay €15.2 million (£12.1 million) for the shares.
A deferred consideration dependent on company financial performance has also been agreed.
Achievement of the target earnings enhancement will see a further €8.5 million paid, although that could rise to €23.5 million for what DPS described as "significant out performance of targets".
DPS has also agreed a price of €0.8 million for the remaining five per cent of APS, should shareholder Werner Schaffer want to sell in the next seven years.
A provider of barcode and printing solutions to the packaging and plastic card industries, DPS turned over £231.5 million last year.
It has expanded through acquisition in the past ten months, purchasing its Belgian distributor and German businesses Photon Energy and Control Information Technology.
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