The deal comes hot on the heels of the partnership with Chinese manufacturer Lucky HuaGuang Graphics announced at the end of last month.
Agfa Graphics said the Ipagsa deal would add around €30m (£27m) to its sales next year, and would also deliver “double digit” EBITDA, in turn helping the group achieve its own 10% EBITDA target.
The terms of the deal were not disclosed. It is subject to customary closing procedures but does not require regulatory approval.
Ipagsa’s plate manufacturing facility located near Barcelona is not included in the deal. PrintWeek understands that the factory will be shut down although details were not available at the time of writing.
Ipagsa was founded in the mid-1980s. The business was privately owned and its chief executive and current owner Lorenzo Ferrari will remain with the firm.
Ipagsa will operate as a separate entity and brand under Agfa’s ownership, serving “price sensitive” markets. Around 80% of the firm’s output is currently to export markets, mainly in Europe and Latin America according to an Agfa spokesperson.
Agfa UK managing director Eddie Williams commented: "There is very little Ipagsa business in the UK so the impact on the UK will be minimal."
In future some of the Ipagsa brand plates will be made by Agfa, and some by third parties.
The Ipagsa range spans thermal CTP plates, conventional plates, develop-on-press processless plates, and computer-to-conventional-plate violet plates.
It also sells platesetters, processors, and associated chemistry and accessories.
Agfa Graphics president Stefaan Vanhooren described the move as “another step in our strategy for profitable growth”.
Ferrari added: “Through Ipagsa, Agfa Graphics will be able to better address the price sensitive regions and segments of the global printing market, making a clear distinction with the premium segment served by the Agfa Graphics organisation.”
Agfa Graphics had sales of €1.2bn last year and is a division of the €2.4bn turnover Agfa-Gevaert Group. Agfa shares slipped by 1.53% to €3.74 following the news.