15Nov

Monotype Imaging Acquires Bitstream Services


Monotype Imaging Inc., a Massachusetts-based company dedicated to bringing together text imaging and graphics with electronic devices, has announced its plan to acquire the MyFonts.com website operated by Bitstream.The $50 million merger, which is being completed in cash, has already been approved by the boards that govern both companies, and will take place in the next coming days. Included in the merger are Bitstream’s 89,000 fonts, popular What’sTheFont identification program, its typeface library and its font rendering services, called Font Fusion and Bitstream Panorama. In addition to these popular programs, 15 Bitstream employees from the company’s Massachusetts site will be taken on by Monotype, as will 40 type designers from the facility in India. It is estimated that Monotype Imaging will benefit from the $17 million the parts of the Bitstream business it is taking over made in 2010, and the company expects much of that cash flow to become a part of its Creative Professional business venture.

Business leaders expect the acquisition to combine the global reach of Monotype Imaging, which has offices in the U.S, Europe and Asia, with Bitstream’s e-commerce business. This will enable Monotype Imaging to continue to deliver quality services to an even more far-reaching market, as well as on different electronic devices, such as televisions, e-readers, cell phones and more.

Doug Shaw, president and CEO of Monotype Imaging, says the merger is a milestone for both companies, and the move fits into Monotype’s strategy for the future. He expects the business to continue to thrive and offer even better services to its customers than it has throughout its vast history.

Monotype Imaging uses its access to the Monotype, ITC and Linotype libraries, which include fonts such as Times New Roman and Helvetica, and technologies to provide an array of services to printer users, original equipment manufacturers (OEM) and business professionals who license the designs. Bitstream began in the early 1980s as a successful font foundry, and then evolved into a developer of software and applications for the graphic arts industry and mobile communications businesses. Bitstream will retain its Pageflex data publishing system and its Bolt mobile browsing technology, which will likely be formed into an entirely new company.

The merger is expected to be completed by the end of the first quarter of 2012, pending approval by Bitstream shareholders and the beginning of Bitstream’s subsequent business ventures.

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    4 Responses to “Monotype Imaging Acquires Bitstream Services”

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