Domino Makes Fourth Acquisition In A Year With APS Buy
APS develops and manufactures a range of thermal inkjet printers

Inkjet technology manufacturer Domino Printing Services has 'added another string to its bow' after completing the 15.2 m euro (£ 12.1 m) acquisition of thermal inkjet manufacturer Alternative Printing Services (APS).

The deal for 95 percent of the German company's equity was finalised through AIM-listed Domino's wholly owned subsidiary, Domino Holdings Deutschland.

APS develops and manufactures a range of thermal inkjet printers for coding and marking applications.

The value of company's gross assets at 31 December 2007 was € 2.5 m, while operating profits for the twelve months to 31 December 2007 were € 0.4 m.

Andrew Herbert, group finance director at Domino, said, `This acquisition is part of our strategic intent to offer customers a complete solution and enhance our position in all markets.`

He added, `With Alternative Printing Services, we have added another string to our bow.`

The initial price payable for APS stands at € 15.2 m – € 13.9 m of which will be paid at closing of the transaction on 31 August this year.

The balance of the initial sum will be paid in February 2010 with deferred consideration also payable subject to and based upon the business's performance over a three-year period.

Nigel Bond, managing director of Domino, said: `APS has developed certain know-how and has patented ink technology that we believe will broaden the use and application of thermal ink jet products in Domino's core market areas.`

The acquisition of APS is the fourth by Domino in a year, following its purchase of Control Information Technology for € 4 m in October 2007 and Domino's Belgian distributor for € 4.3 m in November 2007.

The company also acquired Photon Energy for € 4 m in June of this year.

Date: 28-Aug-2008