Kornit Digital Puchases the Digital Direct-to-Garment Printing Assets of SPSI
ROSH-HA'AYIN, Israel — July 1, 2016 — Kornit Digital, a worldwide market leader in digital textile printing technology, has announced the acquisition of the digital direct-to-garment printing assets of SPSI Inc., a leading North American distributor and service provider for graphic arts, printing and garment decoration solutions. Kornit believes the acquisition is highly strategic as it will help improve connectivity with customers by expanding its leadership position in the digital textile market, as well as providing direct access to a large number of traditional screen printing customers.
Kornit and SPSI have been partners since 2004, with SPSI acting as a trusted distributor of Kornit’s digital printing solutions in the majority of the western U.S. SPSI’s network of logistics and marketing locations in Minnesota, Texas, Kentucky and Kansas, has contributed to the successful development of a broad base of customers that utilize Kornit’s solutions in the regions on which SPSI focuses.
Commenting on the announcement, Gabi Seligsohn, CEO of Kornit Digital, says, “This acquisition will improve Kornit’s time to market while increasing customer intimacy within the rapidly growing digital direct-to-garment printing industry. The acquisition also provides access to a large screen printing customer base which is poised to switch to digital technology over the next several years.”
Kornit and SPSI’s management teams will collaborate closely to ensure continuity in customer-facing, day-to-day operations and contacts will remain intact along with all existing ordering processes until a proper transition can be executed. In connection with the transaction, Tom Codute, SPSI’s president, will dedicate significant focus and attention to ensure continuity during the integration period and beyond.
The acquisition will not affect the collaboration between Kornit and Hirsch, the company’s other large distributor in the Eastern half of the U.S. and California. Both companies will continue to work together and strengthen the existing partnership to drive growth within Hirsch’s sales region.
About Kornit Digital
Kornit Digital (NASDAQ:KRNT) develops, manufactures and markets industrial and commercial printing solutions for the garment, apparel and textile industries. Leading the digital textile printing market with its exclusive eco-friendly NeoPigment process, it caters directly to the needs of the entire textile printing value chain, from designers to manufacturers, apparel decorators and fashion brands. With its immense experience in the direct-to-garment market, Kornit Digital is also revolutionizing the roll fabric industry with its single step solution that enables printing with a single ink set onto multiple types of fabric and with no additional finishing process. Founded in 2003, Kornit Digital is a global company with offices in the U.S., Asia Pacific and Europe and serves customers in more than 100 countries worldwide.
Source: Kornit Digital.