The Acquisition Is Part of Datamax-O'Neil's Long-Term External Growth Strategy to Gain Market Share and Strengthen Its Position in the Global Auto-ID Market
ORLANDO, FL--(Marketwired - May 31, 2013) - Datamax-O'Neil, a global provider of label and receipt printing solutions, has acquired the thermal printer assets of Source Technologies, a leading provider in specialized printing solutions based in Charlotte, North Carolina. Established in 1986, Source Technologies has specialized in secure MICR printing solutions, and will remain a strong entity in this market under new ownership. Terms of the agreement were not disclosed.
"The addition of these new products into our already strong stationary printer portfolio positions us and our channel partners around the world to be more competitive and achieve greater market share," said Paul Sindoni, president of Datamax-O'Neil. "This acquisition represents another step in our strategy to position ourselves as a global market and technology leader and clearly reflects our continued commitment to grow our strength within the industry and our partner community."
Source Technologies thermal printer assets will be fully integrated into Datamax-O'Neil over a two-month period, and the printers will be marketed under the Datamax-O'Neil brand. Source Technologies' Florida-based engineering team will be transferred to Datamax-O'Neil's Orlando, FL operations.
The state-of-the-art printers represent over three years of intense research and development with considerable company investment and resulted in 12 provisional patents. All ST Performance series printers are designed to use PCL5e, an industry standard printer language, which alleviates integration difficulties often caused by proprietary languages. The printers are easy to use, and offer reliability and performance at an affordable price.