U.S. Markets closed
  • S&P 500

    4,538.43
    -38.67 (-0.84%)
     
  • Dow 30

    34,580.08
    -59.71 (-0.17%)
     
  • Nasdaq

    15,085.47
    -295.85 (-1.92%)
     
  • Russell 2000

    2,159.31
    -47.02 (-2.13%)
     
  • Crude Oil

    66.22
    -0.28 (-0.42%)
     
  • Gold

    1,782.10
    +21.40 (+1.22%)
     
  • Silver

    22.57
    +0.25 (+1.12%)
     
  • EUR/USD

    1.1317
    +0.0012 (+0.1019%)
     
  • 10-Yr Bond

    1.3430
    -0.1050 (-7.25%)
     
  • Vix

    30.67
    +2.72 (+9.73%)
     
  • GBP/USD

    1.3235
    -0.0067 (-0.5029%)
     
  • USD/JPY

    112.8000
    -0.4090 (-0.3613%)
     
  • BTC-USD

    50,751.92
    +1,726.33 (+3.52%)
     
  • CMC Crypto 200

    1,367.14
    -74.62 (-5.18%)
     
  • FTSE 100

    7,122.32
    -6.89 (-0.10%)
     
  • Nikkei 225

    28,029.57
    +276.20 (+1.00%)
     

Acacia Research Acquires Printing Technology Business Printronix For $33M

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Acacia Research Corp (NASDAQ: ACTG) has acquired Printronix Holding Corp. for $33 million in cash. The purchase price represents a multiple of ~3.6x the Adjusted EBITDA generated by Printronix in the fiscal year ended March 31, 2021.

  • Printronix is a manufacturer and distributor of industrial impact printers, known as line matrix printers, and related consumables and services. It provides customized industrial print solutions for supply chain and manufacturing processes in harsh printing environments.

  • Acacia sees significant value-creation opportunities stemming from the profitable printing technology business.

  • Acacia Research held cash, equivalents, and equity investments at a fair value totaling $320.6 million as of June 30, 2021.

  • "The acquisition of Printronix aligns with our strategic focus on acquiring high-potential businesses that can effectively leverage Acacia's significant capital resources and operational expertise," commented Clifford Press, Acacia's President and CEO.

  • Price Action: ACTG shares are trading lower by 0.86% at $5.79 at the last check Monday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.