Pantone gets new owners

The ubiquitous Pantone colour swatches relied upon by magazine art directors and designers will still be around, but under new ownership, according to a story carried in DesignEdge Canada. X-Rite, a company from Grand Rapids Michigan that provides technology to measure, formulate and match colours, has agreed to purchase Carlstadt, N.J.-based Pantone Inc. for US$180 million. The deal is expected to close this fall.

Pantone sells its products, services and technologies to the graphic design, fashion, home, plastics, architectural, paint, industrial design and consumer markets. Last year it generated approximately $42 million in revenue.

X-Rite wants to acquire Pantone to diversify its revenue base; add Pantone’s colour standards to its leadership position in hardware, software and service solutions; and expand Pantone’s reach through X-Rite’s global distribution capabilities.