Creo and Scitex Prepress Businesses Join Forces

Under the terms of the agreement, Creo will acquire the assets of Scitex's digital preprint business in exchange for 13.25 million Creo shares valued at some US$537 million. Upon completion of the transaction, Scitex will become a major shareholder in Creo, with about 27 percent of the shares. The new graphic arts group—tentatively named Creo/Scitex—will operate as a division of Creo Products. The new organization will provide both the current Creo and Scitex digital prepress product lines, including computer-to-plate and computer-to-film devices, digital front-end and variable information workflow solutions, ink-jet and digital halftone proofing solutions, professional scanners, digital cameras and imaging heads for digital offset applications.