The Cambridge-headquartered inkjet technology developer completed the deal yesterday (7 November).
Based in Ann Arbor, Michigan, US, Xitron develops workflow systems and interfaces to drive pre-press output devices.
One of Global Graphics Software’s longest standing partners, since 1991 it has developed product offerings around the Harlequin RIP to drive hundreds of different models of imagesetters, proofers, platesetters, inkjet printers and digital presses.
Xitron serves customers in markets including the US and South America, China and Japan with its Harlequin-based Xitron Navigator RIP.
In recent years it has been steadily increasing its footprint in production inkjet with its Navigator driven digital front-end (DFE), which supports drive electronics from Meteor Inkjet and Global Inkjet Systems and drive all Memjet and Canon Finetech heads directly.
Global Graphics chief executive Gary Fry said: “Xitron is the lead player in pre-press RIPs with some 35,000 Harlequin RIP-based installations around the world and an impressive network of dealers and distributors.
“This acquisition allows us to further develop our digital print strategy with a more complete offering for industrial inkjet, such as textiles and decor, and with a broader range of pre-press components for digital applications.”
Xitron president Karen Crews added: “Having developed pre-press software solutions around the Harlequin RIP for nearly 30 years, Xitron is looking forward to the collaboration and growth opportunities associated with this change.
“As we continue to expand beyond our well-established presence in offset, flexography, screen printing, and high-speed inkjet, we’re excited to be a key part of Global Graphics’ strategic initiatives.”
The $4.5m consideration for the acquisition is to be paid in full in cash on closing.
For the year ended 31 December 2018 Xitron recorded revenue of $4.77m and EBITDA of $470,000 and for the six months to 30 June 2019 revenue of $2.43m and EBITDA of $320,000.