X-Rite, Incorporated (Nasdaq: XRIT) a leading provider of color solutions for measuring, formulating, matching, and simulating color, announced today it has completed the purchase of Pantone, Inc. for a purchase price of 180 million dollars. The transaction was funded exclusively with cash, financed through new borrowings.
Pantone, Inc., headquartered in Carlstadt, New Jersey, is the worldwide market leader in color communication and specification standards in the creative design industries. Its flagship product, the PANTONE MATCHING SYSTEM, is the de-facto color standard in the graphic arts, printing, publishing and advertising industries. The company also provides color standards and design tools for the fashion, home furnishings, architecture, paint, interior and industrial design industries.