US firm to acquire EskoArtwork

EskoArtwork’s shareholder, the Danish investment group Axcel, has agreed to sell 100 percent of the shares of the print software supplier to US company Danaher for 350 million euros. The transaction is due to be completed in the first half of 2011, subject to customary approvals. 

Danaher is a diversified technology leader that designs, manufactures and markets products and services to professional, medical, industrial and commercial customers. Driven by its Danaher Business System, its 47,000 employees serve customers in more than 125 countries and generated USD $11.2 billion of revenue in 2009. Upon closing, the business will become a part of Danaher’s Product Identification platform. 

‘We have been extremely satisfied with our investment in EskoArtwork,’ said Sigurd Lilienfeldt, partner at Axcel and responsible for the investment in EskoArtwork. ‘During Axcel’s ownership, EskoArtwork has repositioned itself into a world leading company within its field. This is not only due to the merger with Artwork Systems, but also because of significant R&D investments leading to a range of new leading edge solutions. This innovation capacity of EskoArtwork has been instrumental for the impressive EBITDA growth during our ownership leading to this very successful exit for Axcel.’ 

‘Esko has a leading market position, great products, and a strong team who we are counting on to drive future growth,’ said Matt Trerotola, vice president and group executive of Danaher’s product identification division. 

Carsten Knudsen, CEO of EskoArtwork, said: ‘This is an important and very positive step in the continued development of the company. I and the entire management team are excited to see Danaher’s strategic interest to acquire the company and develop EskoArtwork as an autonomous business. We see this as a vote of confidence in our strategy and a strong belief in our ability to continue to grow in the future.’ 

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