16 November 2009
Canon to buy Océ, Agfa gets Gandinnovations
TORONTO—It's a big day for mergers and acquisitions in the printing industry. In the early hours of today, Canon announced it plans to buy Océ, and Agfa said it's acquiring Gandinnovations.

Canon announced a cash offer for all the shares of Océ that represents a premium of 70% over the closing price on Friday, November 13. The overall price tag  is estimated to be more than $1 billion.

With this move Canon has stated that it intends to create the number-one presence in the printing industry, helped by Océ's strength in  production printing, wide format printing and business services.

Océ shareholders are expected to approve the deal in the first quarter of 2010. See the press release for more information.

In the other big announcement of the day, Agfa is buying most of the assets of Gandi Innovations Holdings, a major supplier of large-format inkjet systems. Since May, Gandinnovations has been operating under CCAA protection in Canada and Chapter 15 in the U.S.

The deal, which will significantly increase Agfa's presence in the large-format inkjet printing,  is subject to regulatory and court approval and the price has not been disclosed.

See the press release for more informtion.

More details will be reported as they become available.

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