TransAct Technologies to Acquire Printrex for $4M
TransAct Technologies Incorporated (Nasdaq: TACT) today announced that it has entered into an agreement to acquire substantially all the assets of Printrex, Inc. for $4 million plus contingent consideration related to new products under development. The acquisition is expected to close in the third quarter of 2011, subject to customary closing conditions.
Printrex has become the worldwide leader in printers/plotters for the oil & gas exploration and drilling industry. Printrex also manufactures and markets printers for other demanding applications that include the medical industry and rugged mobile truck mounted printers. Printrex recorded sales of $5.4 million with an operating income margin that was slightly higher than TransAct's in 2010.
