| IRVINE, Calif. - Tuesday, November 10th 2015 [ME NewsWire]
(BUSINESS WIRE)--Printronix Inc., a worldwide leader in industrial printing solutions, today announces that it has reached an agreement to sell its Thermal/AIDC business to TSC Auto ID Technology Co., Ltd. (TWSE: 3611.TWO)
TSC will acquire all intellectual and branding rights to Printronix’ Industrial Thermal stationary and mobile printers, barcode verification, RFID, and PrintCart product lines that will operate post-closing as a stand-alone company called Printronix Auto-ID Inc.
“Our strategy to accelerate the growth potential for Printronix’ Thermal business and to present a broader choice of solutions to our enterprise customers drove our decision to sell the Thermal business to TSC Auto ID. TSC’s strength in AIDC product development, its breadth of product portfolio, the ability to expand Printronix’ commercial footprint, especially in Asia, and the ability to get economies of scale within the supply chain, made TSC Auto ID a logical choice,” said Printronix Chief Executive Officer Werner Heid.
“The acquisition of the Printronix Thermal/AIDC Business presents tremendous opportunities for both companies, its partners, and its end-user base,” said Sam Wang, President of TSC Auto ID. “The two companies are extremely complementary from Product, Channel, and Technology perspectives. Printronix’s recognized excellence in the Industrial printing segments is the optimal addition to TSC’s strong base in desktop printing. Additionally, Printronix’s strength in the Americas and EMEA will also help both companies accelerate growth in these regions. We are very excited to be joined by our new team members, and to create a broader and more competitive product offering for both customer bases.”
The retained business will operate as Printronix, LLC, focusing on our core impact technology, where Printronix holds the leading global position.
Heid said, “The sales of the Printronix Thermal business will enable us to maximize the business opportunity for the remaining impact printing business, which continues to offer significant value in terms of unmatched reliability, lowest cost of operation, robust media handling and inherent ‘green’ benefits. Furthermore it allows us to partner with our enterprise customers and leverage our intellectual property to expand our product & service offerings into adjacent printing markets and to invest in new emerging industrial printing opportunities.”
The transaction is scheduled to be completed by January 2016.
About Printronix Inc.
Printronix is a global leader in industrial printing solutions, offering the most-trusted selection of ultra-reliable printers, supplies, service and parts for environments demanding high reliability and low-cost printing. The company offers two of the most-trusted brands in industrial printing, Printronix and TallyGenicom, known throughout manufacturing, distribution, retail, banking, healthcare, government and other enterprises across the globe. The combined portfolios include the highest quality line matrix, thermal and RFID printers. Printronix was founded in 1974 and is headquartered in Irvine, Calif. For additional information, visit Printronix.com, Twitter, LinkedIn or Facebook.
Contacts
Printronix Inc.
David Espinosa
Senior Director Corporate Marketing
+1 714-368-2559
despinosa@printronix.com
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