12th Sep 2005 07:00
Xaar PLC12 September 2005 FOR IMMEDIATE RELEASE 12 September 2005 Xaar plc STRATEGIC INVESTMENT IN INKJET INTEGRATOR, XENNIA Xaar plc ("Xaar"), the inkjet printing technology group headquartered inCambridge, has made a strategic investment in Xennia Technology Limited("Xennia"), the inkjet solutions house based in Royston, UK. Xennia has used Xaar's technology for some years. More recently, the twocompanies have been working closely together on new developments with a jointdevelopment agreement in effect since June 2004. In April 2005, Xennia became apreferred Xaar integrator partner. Xaar's investment will strengthen thisrelationship further at a time when inkjet is positioned to become a keyproduction process for many industrial applications. Under the terms of the agreement, Xaar has acquired a 10% holding in Xennia for£1.0m in cash and holds an option to purchase up to a further 2.5% at the sameprice. Currently, Xaar has no plans to increase its holding beyond that of aminority shareholder. Xennia was founded in 1996 by Dr Alan Hudd, President, and is a key provider ofinkjet solutions for a wide range of industrial markets. It is an innovativedeveloper of fluids and integrated systems for specialist inkjet applicationsand, in particular, offers unique decorative and functional UV cure inks andtechnologies for industrial processes, labelling, packaging and productdecoration onto non-porous substrates. Nigel Berry, Finance Director of Xaar, commented: "During the past year Xaar has been developing a network of integration partnersto help spearhead its drive into new applications and new markets. Xennia hassubstantial experience of applying inkjet to many different industrialapplications and has created a number of pioneering ink technologies includinggroundbreaking metallic inks. Our investment in Xennia will cement an alreadystrong relationship which we confidently expect will contribute toward Xaar'sfuture growth." Commenting for Xennia, Nick Balon, VP and General Manager, said: "The level of ink and head synergy required for successful inkjet integrationdemands very close collaboration between inkjet developers. Xaar is recognisedas a leading supplier of high performance printheads and offers a world classrange specifically developed to meet the demands of industrial applications.For Xennia, the relationship with Xaar strengthens our ability to offer ourcustomers a fully supported inkjet proposition and we see it as key to helpingsustain our growth." Contacts Xaar plc: 01223-423663Ian Dinwoodie, Chief Executive www.xaar.co.ukNigel Berry, Group Finance Director & Deputy Chief Executive Xennia Technology: 01763-246600Nick Balon, Vice President www.xennia.com Bankside Consultants:Steve Liebmann or Susan Scott 020-7367-8883 / 07802-888159 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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