It paid 145,000 as a mixture of cash and shares, with further cash payments over the next three years dependent on performance.
We approached Warren (Tayler, executive chairman of ControlP) two months ago, said TripleArc chief operations officer Jason Cromack.
The process speeded up when we heard about Printchannel, added Tayler. The merger gives an edge to home-grown UK products, security and long-term investment. Its a good base to grow on.
Both firms print e-commerce products will be combined to create a range for printers, print brokers and corporates.
TripleArc and ControlP came up against each other in the market, said Tayler. There was a lot of confusion in the market about the products.
The new firm will employ 26 staff and be based in TripleArcs Marylebone offices.
Documedia will be able to sell the entire TripleArc product range to its clients.
According to both firms customers have reacted positively to the news.
A lot of ControlPs customers are interested in TripleArcs JDF-based tools, said ControlP general manager Daniel Emerson.
Story by Barney Cox
Have your say in the Printweek Poll
Related stories
Latest comments
"Sorry to read this, a big name to go down, hopefully a lot of the £1.8M was insured. We are recruiting operational staff & currently in-talks to assist the clients with immediate requirements."
"£1.8m !! Very big numbers indeed."
"Now black really is white. Ditching a product line with all its consequences for customers is now an award winning move. Priceless!"
Up next...
News comes a year after the Coronation
King and Queen update Royal Warrants
66-year-old firm closes
DCW Penrose shuttered; kit sold at auction
Finishing from start to finish
IFS lauds partners' premieres and Drupa importance
Government emphasised RM's importance to society