Raster Graphics Inc. announces acquisition of ColourPass; provides company with expanded international direct distribution.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif.--(BUSINESS WIRE)--March 21, 1997--Raster Graphics Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :RGFX), a leader in large-format, on-demand digital printing systems and software, today announced the completion of its merger with ColourPass. ColourPass is a leading distributor in the United Kingdom of high-end large-format digital printing (LFDP) systems. ColourPass has been distributing LFDP systems, including Raster Graphics' products, in the United Kingdom for over three years. ColourPass provides complete system integration services and support for the Raster Graphics See bitmapped graphics. (graphics) raster graphics - Computer graphics in which an image is composed of an array of pixels arranged in rows and columns. Opposite: vector graphics. product line of electrostatic digital presses, inkjet printing systems, image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished software and related consumables. "We are very pleased to have finalized the merger with ColourPass," said Rak Kumar, Raster Graphics' president and chief executive officer. "Their technical expertise in large-format digital printing and proven distribution capabilities provide a strategic addition to the company," continued Kumar. "The acquisition of ColourPass will provide Raster Graphics with direct distribution in the U.K., an important international market for the company, and represents a step forward in expanding our global direct distribution capabilities." The transaction will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . Raster Graphics expects that the transaction will result in a charge in the quarter ending March 31, 1997 of approximately $150,000 to $200,000, or 1 cent to 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . These acquisitions charges will be separately identified in the company's first quarter financial statements. Raster Graphics Inc. (RGI RGI Ragnar Granit Institute RGI Resource Group International RGI Regional Geographical Initiative RGI Reactant Gas Inlet ) designs, manufactures and markets complete printing systems for the on-demand, large-format color digital printing market. Its customers include graphic arts service bureaus, photo labs, screen printers, exhibit and sign companies, and in-house graphics services. RGI offers customers complete large-format color printing solutions including its Digital ColorStation 5442 production electrostatic digital press; PiezoPrint 5000 and PiezoPrint 1000 production inkjet printers; PosterShop image processing software; PiezoPrint Finale finishing laminator; and related consumable products such as inks, varnish, papers and films. Raster Graphics is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. , listed on the NASDAQ under RGFX. For more information, visit RGI's home page at http://www.rgi.com on the World Wide Web. Certain of the matters discussed in this press release are forward-looking statements, the accuracy of which is necessarily subject to risks and uncertainties. Actual results may differ materially from the statements made due to a variety of factors including, but not limited to (i) expense of the merger being greater or lesser than expected (ii) risks associated with international operations, (iii) unforeseen delays in the distribution of the Company's products, (iv) other risk factors described in the Company's Registration Statement on Form S-1 as filed with the Securities and Exchange Commission. -0- NOTE TO EDITORS: PiezoPrint, ColorStation, PosterShop and PiezoPrint Finale are trademarks of Raster Graphics Inc. CONTACT: Raster Graphics Inc. Janice Benedict, 408/232-4067 (Investor Relations Investor relations The process by which the corporation communicates with its investors. ) |
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