Printer maker Printronix goes private
Private equity firm agrees to buy leading maker of bar code label printers.
By Corinne Kator, Associate Editor -- Modern Materials Handling, 10/5/2007
Printronix announced this week its agreement to be acquired by private equity firm Vector Capital for $108 million. Printronix supplies line matrix printers, continuous form laser printers and thermal bar code label printers often used in warehouses and distribution centers.
The acquisition is subject to approval by regulators and shareholders and is expected to close by the end of the year.
Printronix CEO Robert Kleist says the company will remain headquartered in Irvine, Calif., the current management team will remain in place and Printronix will continue its current product strategy.
Printronix ranked No. 13 on Modern’s most recent list of the largest suppliers of automatic data capture equipment.
Vector Capital specializes in buyouts, spinouts and recapitalizations of technology businesses. The firm’s portfolio includes such companies as RealNetworks and WinZip. Vector Capital owned RFID provider Savi Technology until it sold Savi to Lockheed Martin in 2006.
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good news
thank you
mahesh
(www.thinkingstreet.com)
mahesh - 2007-9-10 03:42:00 EDT
Modern Materials Handling
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