Global Graphics has completed its acquisition of the Hybrid Software Group from Congra Software following the passing of a shareholder resolution at a general meeting held on January 8, 2021.
Hybrid Software is a group of software development and marketing companies focused on enterprise software for the graphic arts industry, focusing on labels and packaging. It becomes the fourth subsidiary company in the Global Graphics group and sits alongside Global Graphics Software, Meteor Inkjet, and Xitron.
The acquisition roughly doubles the size of the Global Graphics group of companies in terms of headcount, expanding the global workforce to around 250 people. It adds several more operating locations to the group through Hybrid Software’s offices in Luxembourg, Belgium, Germany, Italy, France, and the USA. Global Graphics typically invests about one-third of its revenues into R&D each financial year and has a strong software development team, which is now expanded to more than 75 engineers.
Guido Van der Schueren, chairman of Global Graphics, said: ‘This acquisition is a great fit strategically. It’s good news for our customers, our employees, and our shareholders. We will continue to grow the company's value by supporting all our stakeholders and reaffirm our intention to remain a listed company. As the packaging industry continues its migration to digital printing, there are tremendous opportunities for Global Graphics’ hardware and software solutions, so bringing Hybrid Software into the group will help us grow our share in labels and packaging. Exciting times lie ahead as we launch new initiatives in response to customer demands, ranging from innovative new products to subscription-based licensing models.’
Global Graphics’ CEO Mike Rottenborn added: ‘This acquisition makes Global Graphics stronger than the sum of its parts. Market requirements are changing, and it’s important for the future growth of the company that we are positioned to respond. Customers are asking for more functionality, and we are well placed to offer a broader solution starting with a powerful new digital front end for the labels and packaging segment. Expect to see new product development for the industrial inkjet market too, which, as it evolves and matures, requires a new generation of software and hardware capabilities. We’ll be able to take Hybrid Software’s expertise in file preparation, and enterprise production workflow gained in the labels and packaging segments and expand this out across all the industry segments we serve.’
Consideration for Hybrid Software's acquisition was EUR 80 million, which was satisfied in full by issuing 21,074,030 Global Graphics shares to Congra.