Creo terminates bid for Printcafe

Creo has terminated its offer to aquire Printcafe Software Inc.'s outstanding shares.

'We have received information that leads us to revise our financial analysis of Printcafe's value to Creo and no longer feel that Printcafe is sufficiently valuable to Creo to warrant a continuation of the bidding process,' stated Amos Michelson, Creo chief executive officer. Amos said Creo is withdrawing from the bidding process for a number of reasons, including the company's failure to provide due diligence information within the promised time frame.