Market Overview

Armor to Acquire Thermal Transfer Ribbon Business and IP from Iconex; Companies Sign Global Reseller Agreement


Iconex, a leading global provider of receipt and label solutions, and
Armor, worldwide leader in coating TTR ribbons for barcode printing,
today announced that they have entered into an agreement where Armor,
headquartered in Nantes, France, with U.S. headquarters in Cincinnati,
Ohio, will acquire Iconex Thermal Transfer Ribbon (TTR) Business and
Intellectual Property (IP). The two companies also announced that they
have signed a global reseller agreement, under which Iconex will become
a preferred global reseller for Armor and its TTR technology. The
Partnership will benefit to customers of both companies: it will
significantly enhance Armor's presence and service to U.S. and worldwide
TTR customers and also strengthen the Iconex go-to-market strategy, as
it will spur company growth and foster a focus on its core offerings.
Armor will fully integrate Iconex's offerings and IP into its
organization over the upcoming months, ensuring cross-pollination of
product, people and support. Terms of the transaction were not disclosed.

As part of the agreement, Iconex has agreed to sell its TTR intellectual
property, which includes the patented formula of all Iconex grades
including Ultra-V. Iconex invented the paper receipt over a century ago,
and today offers products including receipts, labels, printer supplies
and other essentials. Armor is the worldwide market leader in the
coating of TTR for printing on packaging and barcode labels and is a
specialist in print consumables and coated films for the renewable
energies market. The company has a strong 90-year history of innovation
as printing and consumables specialists. Armor has a manufacturing unit
in USA since 2000. The acquisition of Iconex TTR business marks a new
stage in Armor presence as a key TTR player in the U.S. market.

"Today's news strengthens the industry by bringing together two
long-time leaders in the TTR market – with storied histories in the
market. The Iconex brand is well known for its product innovation and we
are excited to merge with our existing technology to better service our
customers," said Hubert de Boisredon, chairman and chief executive
officer, Armor. "We are not only acquiring a market-leading technology,
we are establishing an important reseller agreement with Iconex
that will enable an extensive more robust go-to-market strategy for us
and reinforce our market penetration in USA and around the globe."

The global reseller agreement between the two companies allows Iconex to
sell its TTR technology as an Armor preferred partner in several
countries around the world. The partnership is built upon a clear
alignment of corporate strategy and direction and allows Armor to fully
leverage Iconex strengths in the market. This preferred partnership
becomes effective upon October 1st, 2018.

"This strategic decision to sell our Thermal Transfer Ribbon Business
and associated Intellectual Property will allow us to better focus on
our strategy to become the world's leading provider of receipts and
innovative label solutions," said Craig Gunckel, chief executive officer
of Iconex. "We are also very excited to enter into a distribution
agreement to become a reseller of the full line of Armor's products and
technologies, which now includes Ultra V. This partnership will allow us
to better support our existing customers by offering an extended range
of products and tools, which we believe will lead to growth for both
Iconex and our customers."

About Armor
Armor is the global market leader in the coating
of Thermal Transfer ribbons for printing on packaging and barcode
labels, the European market leader in the production of inkjet
cartridges and France's largest seller of remanufactured laser
cartridges. This specialist in print consumables and coated films for
the renewable energies market is proud to promote its business model,
focusing on innovation, industrial hi-tech expertise and the personal
development of its employees. With total revenue of €256m in 2017, ARMOR
spends €13m each year in France on R&D. Its 1,800 employees are
distributed over 26 industrial and logistics sites on all five
continents, of which 700 are based in France.

About Iconex, LLC
Iconex is the leading low-cost provider of
paper receipt and differentiated label solutions essential to daily
commerce. A tradition of innovation dating back to 1887 is weaved into
the fabric of Iconex's identity beginning with the company's invention
of the paper receipt which revolutionized business transactions. Most
recently, Iconex transformed the industry with the introduction of its
Sticky Media®, a product that has enabled the Quick Service Restaurant
industry to streamline operations, leading to an improved customer
experience. For more information, please visit
Iconex and Iconex Sticky Media® are trademarks of Iconex, LLC in the
United States and other countries. All other trademarks and/or
registered trademarks are property of their respective owners.

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