By: E&P Staff
Agfa-Gevaert in Mortsel, Belgium, sold Agfa Monotype Corp. of Wilmington, Mass., to Boston-based private-equity investor TA Associates last Friday, Nov. 5, in a cash transaction valued at $169 million.
Agfa Monotype, which will change its name into Monotype Imaging Inc., employs 144 people.
Monotype Imaging provides fonts and font technologies to graphic professionals, software developers and manufacturers of printers and display devices. It also provides print drivers and color imaging technologies to original equipment manufacturers.
Announcing the divestiture, Agfa said the font business is not a core activity in its focus on “further strengthening its position in the prepress market and on building a new growth platform in industrial inkjet printing.”
TA Associates manages over $5 billion in capital and has invested in 340 companies. Founded in 1968, it provides investment capital for buyouts and private equity financing of financial- and business-services, technology, health-care and consumer-products companies.