Axiohm Transaction Solutions, Inc. announced that it has signed a binding agreement to acquire AP Print, S.A, based in Angers, France.
AP Print is a developer and manufacturer of plastic card printers used in applications such as driver’s licenses, membership cards, access control badges and smart cards. In 1997, AP Print had revenues of approximately $2 million and was profitable. The transaction is subject to final due diligence by Axiohm and is expected to close within 30 days.
“AP Print has an excellent reputation for developing high quality dependable plastic card printers,” commented Patrick Dupuy, co-Chairman of the Board of Axiohm.
“However, the company has almost no direct sales outside of France. Through our existing sales channels, we plan to significantly expand AP Print’s presence in Europe and in the United States. Additionally, we will look to extend the breadth of their product line to take advantage of Axiohm’s advanced printing mechanism expertise. We look forward to working closely with the AP Print team to accomplish these goals.”
Axiohm Transaction Solutions is one of the two largest non-captive designers, manufacturers and marketers of transaction printers in the world and is the only transaction printer manufacturer currently manufacturing its own thermal and impact printheads.
Axiohm’s transaction printer products are used in retail, financial and commercial transactions to provide transaction records such as receipts, tickets, register journals, checks and other documents. Axiohm also has an increasing sales presence in the markets for magnetic stripe and computer chip card readers and bar code printers and related consumable supplies.Details