US technology company Danaher Corp yesterday agreed to buy Belgian maker of digital design software used for product packaging, EskoArtwork, for $470 million.
Ghent, Belgium-based EskoArtwork is a global market leader in digital design software used by the packaging industry, whose software products integrate graphic, structural and process management functions for packaging, label, sign and display applications.
It has global sales operations covers Europe, the Americas, Asia Pacific and Japan, a network of distribution partners in more than 40 countries and has R&D and manufacturing facilities in 5 European countries in the US and in India.
Esko, owned by Axcel A/S, a Danish private equity investment firm, merged with Artwork Systems Group in 2007 and renamed the company EskoArtwork
EskoArtwork employs around 950 people worldwide and had annual sales of $247 million in the most recently completed fiscal year.
Washington-based Danaher, a diversified technology leader, designs, manufactures, and markets innovative products such as high precision microscopes, dental equipment, and services with strong brand names and significant market positions.