Release Date: Thursday, March 3, 2022
Press release from the issuing company
Xaar has completed the acquisition of Megnajet, one of the market leaders in the design and manufacture of industrial ink management and supply systems for digital inkjet.
The deal accelerates Xaar’s growth strategy of offering its customers, particularly User Developer Integrators (UDIs), greater integration across inkjet solutions through access to more of the printing ecosystem, such as ink supply systems and electronics.
Megnajet designs and manufactures some of the most integrated and compact ink management and supply systems. Their broad product range will form part of Xaar’s inkjet solutions portfolio, helping UDI customers reduce development timescales and shorten their time to market, while also attracting a broader range of commercial opportunities for the business.
In addition, the acquisition will enable Megnajet to focus on growth through new developments and shared expertise across the group.
Megnajet will be headed by Mike Seal as its new General Manager. Mike joins the business having previously been Xaar’s Head of Advanced Applications.
Megnajet’s Technical Director, Graham Strudwick, becomes the Xaar Group’s new Director of System Component Integration, bringing his expertise to the wider business while still retaining the responsibilities from his previous role.
John Mills, CEO of Xaar, said; “This acquisition demonstrates further progress of our growth strategy as we focus on offering our customers a more integrated inkjet solution.
“As well as enhancing Xaar’s world class inkjet expertise, Megnajet’s excellent reputation within the inkjet industry for delivering compact and easy to integrate products will ensure we can attract new opportunities through providing a more rounded approach for our customers.
“Xaar has worked with Megnajet for several years, so this acquisition is a great addition to our business. We are delighted to welcome everyone at Megnajet into the Xaar Group.”
Mike Seal commented; “I’m looking forward to working with the team to continue Megnajet’s focus in helping its customers get their products to market more quickly.
“Now, as part of Xaar, we will have the expertise, resources and technologies to develop our ink management and supply systems even further, benefiting our customers and growing the Megnajet business through this exciting integration.”
It is anticipated that the acquisition will contribute positively to earnings in 2022, and to the long-term profitable growth in Xaar’s core printhead business.