Printronix Inc., a leader in industrial printing solutions has announced that it has reached an agreement to sell its Thermal/AIDC business to TSC Auto ID Technology Co., Ltd.
Under the plan, TSC is expected to acquire all intellectual and branding rights to Printronix’ Industrial Thermal stationary and mobile printers, barcode verification, RFID, and PrintCart product lines that will operate post-closing as a stand-alone company called Printronix Auto-ID Inc. The transaction is scheduled to be completed by January 2016.
“Our strategy to accelerate the growth potential for Printronix’ Thermal business and to present a broader choice of solutions to our enterprise customers drove our decision to sell the Thermal business to TSC Auto ID. TSC’s strength in AIDC product development, its breadth of product portfolio, the ability to expand Printronix’ commercial footprint, especially in Asia, and the ability to get economies of scale within the supply chain, made TSC Auto ID a logical choice,” said Printronix Chief Executive Officer Werner Heid.
“The acquisition of the Printronix Thermal/AIDC Business presents tremendous opportunities for both companies, its partners, and its end-user base,” said Sam Wang, President of TSC Auto ID. “The two companies are extremely complementary from Product, Channel, and Technology perspectives. Printronix’s recognized excellence in the Industrial printing segments is the optimal addition to TSC’s strong base in desktop printing. Additionally, Printronix’s strength in the Americas and EMEA will also help both companies accelerate growth in these regions. We are very excited to be joined by our new team members, and to create a broader and more competitive product offering for both customer bases.”