EskoArtwork in transfer of ownership
EskoArtwork shareholder Axcel has entered into a definitive Sales Purchase Agreement with the US industrial company Danaher for the acquisition of 100% of the shares in EskoArtwork for €350 million. The transfer of ownership is expected to be completed within the first half of 2011. Upon closing, the business will become a part of Danaher’s Product Identification platform.
Carsten Knudsen, CEO of EskoArtwork says: “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.”
Danaher is a diversified technology leader that designs, manufactures, and markets innovative products and services to professional, medical, industrial, and commercial customers. “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 Product Identification.
“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.