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Mark Peters : 2006-10-09 02:00:00
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X-Rite announces new Chief executive officer : The Board of Directors of X-Rite, Incorporated announced the implementation of the planned CEO succession which was outlined at the time of the January announcement of the Amazys acquisition. Effective October 1, 2006 Michael C. Ferrara will retire from his positions of CEO and Member of the Board and Thomas J. Vacchiano Jr. will become President and Chief Executive Officer as well as a Member of the Board of Directors. Tom Vacchiano was the President and Chief Executive Officer of Amazys Holding AG from January 2001 until the acquisition by X-Rite in July of this year. Mr. Ferrara will remain available to consult on the transition through the end of this year.
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Dennis Hissink : 2006-07-06 09:00:00
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X-Rite acquires Amazys Holding : X-Rite, Incorporated (Nasdaq: XRIT), a global leader offering color measurement technology solutions, today announced the completion of its acquisition of Amazys Holding AG for a purchase price of CHF 77 per share plus 2.11 shares of X-Rite, Incorporated stock for each Amazys share. The total purchase price on the settlement date of July 5, 2006 was approximately $280 million. The acquisition was financed through a combination of cash, debt and X-Rite stock. Amazys develops, markets and supports hardware, software and services to measure and communicate color under the GretagMacbeth brand. The new combined company will be called X-Rite, Incorporated.
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