- August 16, 2002, PRESS RELEASE
VANCOUVER, BC, CANADA—Creo reports the co. signed a definitive agreement to acquire ScenicSoft, Inc., a prepress supplier located in the Seattle, WA, area, last Friday. Creo says, under the terms of the agreement, it will acquire what it calls a "pioneer in developing digital prepress solutions" for approximately $9.5 million (US), in a combination of cash, equity, and an assumption of liabilities. Co. adds the acquisition is expected to close in 90 days and to be accretive to Creo's adjusted earnings per share within one year of the close.
Says Creo CEO Amos Michealson: "After working in partnership with ScenicSoft for the last eight years, Creo welcomes ScenicSoft's market-leading layout and imposition software into our product range. ScenicSoft is known for its Preps software, the industry's leading page imposition layout software for offset." He adds, "[We] also gain several other products that complement our Networked Graphic Production initiative, which integrates all apsects of print-production -- from idea to delivery. The added technology, category-leading products, and industry knowledge of the ScenicSoft team will further strengthen our ability to deliver the best solutions to our customers." In addition to the Preps product, ScenicSoft also produces: Pandora, a native PDF step-and-repeat solution for the packaging and label industries; UpFront, an "innovative solution" for print-production planning; TrapWise, a full-featured trapping solution; and Color Central, an OPI server that automates the time-consuming tasks in the print-production workflow.
More information about Creo is available at creo.com.