Analysts estimate the deal is based on valuation of $100m, significantly higher than Aprion’s value of $50m. in 7/2000.
Aprion raises $5m. from Japan’s Toyo Ink
By Digital Israel Staff (March 4, 12:55)
Aprion Digital, an art inkjet printing technology developer, said today that it has raised $5 million from Toyo Ink, a Japanese developer and manufacturer of chemicals, materials and printing inks for industrial applications. Analysts estimate that the deal is based on a company valuation of $100m., significantly higher than Aprion’s value of $50m. in its previous round of financing in July 2000.
Under the terms of the agreement Toyo will also exclusively develop, manufacture and distribute printing inks to be used with Aprion’s Graphic Arts products in the Japanese markets.
Aprion is currently preparing to launch its first line of industrial digital printing products, and intends to accelerate development of additional advanced products based on its leading inkjet printing technology. Aprion’s technology is about to begin its Beta testing.
Major shareholders in Aprion include Scitex Corporation, Clal Electronics Industries, Discount Investment Corporation, the Israel Infinity and the TDA venture capital funds, Bank HaPoalim, CDI, and now, Toyo Inc.
Aprion Digital was spun-off from Scitex Corporation, one of the leading pioneers of digital pre-press and digital printing. Aprion develops, manufactures and markets digital printing presses and specialized water based inks for industrial applications. Based on Aprion’s patented MAGIC (Multiple Array Graphic Inkjet Color) drop-on-demand piezo inkjet technology, these include; home and commercial furnishings, packaging, large format indoor and outdoor signage, book and document printing.
The company raised $15.5m. in September 1999, based on a company valuation of
