AGFA Slims Up for New Goals
Several days after Agfa-Gevaert announced the divestiture of its consumer imaging business, the company announced that it has signed an agreement to divest Agfa Monotype Corp., headquartered in Wilmington, Mass., to Boston-based private equity investor TA Associates.
The consumer imaging business was transferred to independently operated AgfaPhoto. All relevant assets and liabilities were transferred, as well as about 2,860 employees.
The value of the transaction involving the Agfa Monotype Corp., which employs 144 people, amounts to $169 million. The corporation, to be renamed Monotype Imaging Inc., is a leading provider of fonts and font-related software.
Divesting its font business was part of Agfa's plan to strengthen its position in the prepress market and build a new growth platform in industrial inkjet printing.