Global Graphics PLC:Proposed Acquisition of HYBRID Software Group
10 Dicembre 2020 - 8:00AM
Global Graphics PLC:Proposed Acquisition of HYBRID Software Group
PRESS RELEASE – REGULATED
INFORMATION
GLOBAL GRAPHICS PLC: PROPOSED
ACQUISITION OF HYBRID SOFTWARE GROUP
Cambridge (UK), 10 December 2020 (08.00
CET): Global Graphics PLC (Euronext: GLOG) announces today
that it has entered into a binding conditional agreement with
Congra Software S.à r.l. (“Congra”) for the proposed acquisition of
the entire issued share capital of HYBRID Software Group S.à r.l.
(“HYBRID Software”) from Congra.
HYBRID Software is a group of software
development and marketing companies focused on enterprise software
for the graphic arts industry, with a strong focus on labels and
packaging. HYBRID Software is registered in Luxembourg and
has subsidiaries in Belgium, Germany, Italy, France and the
USA.
HYBRID Software’s two main product lines,
CLOUDFLOW and PACKZ, offer a unique set of advantages that include
native PDF workflow and editing, variable data linking and
imposition, vendor-independent solutions based on industry
standards, scalable technology and low total cost of ownership.
These products are used by more than 1,000 customers worldwide in
all areas of pre-press and printing, including labels and
packaging, folding cartons, corrugated, and wide format.
Guido Van der Schueren, Chairman of Global
Graphics PLC, explains the rationale behind the proposed
acquisition. “Combining Global Graphics and HYBRID Software
will create the foremost enterprise software supplier for digital
printing, as well as for traditional label and packaging market
segments and I’m proud to announce it to the industry. The
DNA of both companies is similar – customer-focused innovation in
graphic arts and industrial inkjet – and there’s a strong existing
relationship and a great fit between HYBRID Software and the Global
Graphics companies: Global Graphics Software, Meteor Inkjet, and
Xitron.
“The combined company will total more than 250
dedicated employees with a wealth of experience in software and
hardware development, but our mission will remain unchanged:
developing innovative solutions for both end users and OEM
suppliers. HYBRID Software has also established a successful
recurring revenue model based on SaaS and subscription licensing,
something that Global Graphics’ customers are asking for as
well. I look forward to concluding the transaction at the
beginning of 2021 and to a very bright future for the new
company.”
Mike Rottenborn, Global Graphics’ CEO, adds:
“This proposed acquisition is strategically important for our
future growth. With HYBRID Software on board, Global Graphics will
be able to offer premium products like packaging editors and
production workflow solutions to end-users, in addition to
continuing our focus on innovative solutions for our OEM partners.
While Global Graphics already supplies technology to the labels and
packaging market, we will be able to increase our focus on
packaging with the acquisition; the labels and packaging segment is
the fastest growing in the printing industry and an area in which
HYBRID Software has specialized knowledge. It also has feet
on the ground across Europe, Asia, and the Americas to facilitate
OEM and end-user sales. And we recognize that the way in
which we do business would benefit by introducing new models,
including SaaS and subscriptions. These are business models
that our existing customers have requested and that HYBRID Software
offers to its customer base. Their expertise in this area will be
valuable to us as we roll out these new initiatives across Global
Graphics.”
Consideration for the acquisition is EUR 80
million which will be satisfied in full by issuing 21,074,030
Global Graphics shares to Congra (the “Consideration
Shares”). The number of Consideration Shares to be issued
to Congra has been calculated based on the volume-weighted average
of the closing price per Global Graphics share for each of the last
30 trading days prior to the date of signing the conditional
agreement, and represents an implied price per Consideration Share
of EUR 3.80. Assuming successful completion of the acquisition and
following the issue of the Consideration Shares to Congra, Congra’s
aggregate shareholding in Global Graphics will amount to 82.16 per
cent of the enlarged issued share capital of Global Graphics
(excluding shares held in treasury). The acquisition remains
conditional upon, amongst other customary conditions, the passing
of a shareholder resolution at a forthcoming general meeting of
Global Graphics to be held on 8 January 2021.
More information about HYBRID Software, the proposed
acquisition and full details about the meeting and voting can be
found in the Notice of General Meeting on the Company’s website
at
https://investor.globalgraphics.com/investors/hybrid-software-acquisition.
Shareholders are also invited to attend
a Q&A session with Mike Rottenborn and Graeme Huttley via a
Zoom conference call on Monday, 14 December 2020, at 15:00
CET. To register for this conference call, please
email investor-relations@globalgraphics.com by
14:30 CET on Monday, 14 December 2020. Details of how to join
the meeting will then be provided by email.
Ends
About Global Graphics
Through its operating subsidiaries, Global
Graphics PLC (Euronext Brussels: GLOG) is a leading developer of
integrated hardware and software solutions for graphics and
industrial inkjet printing. Customers include press manufacturers
such as HP, Canon, Durst, Roland, Hymmen and Mark Andy.
Global Graphics PLC is headquartered in Cambridge UK. Its
subsidiary companies are printing software developers Global
Graphics Software; the industrial printhead driver solutions
specialists, Meteor Inkjet; and the pre-press software specialists
Xitron.
Contacts
Jill Taylor |
Graeme Huttley |
Corporate Communications Director |
Chief Financial Officer |
Tel: +44 (0)1223 926489 |
Tel: +44 (0)1223 926472 |
Email: jill.taylor@globalgraphics.com |
Email: graeme.huttley@globalgraphics.com |