WOBURN, Mass.--(BUSINESS WIRE)--Monotype Imaging Holdings Inc. (Nasdaq: TYPE), a leading global provider of text imaging solutions, today announced it has acquired Planetweb, Inc., a global provider of embedded user interface software and developer tools for the consumer electronics industry. The acquisition is expected to broaden Monotype Imaging’s value to manufacturers and developers of consumer electronics devices through products that integrate the company’s fonts and font technologies with Planetweb’s graphical user interface solutions.
Under the terms of the agreement, Monotype Imaging has purchased the principal assets of privately held Planetweb for $1.9 million in cash.
“We’re focused on combining technology with design to help the world communicate,” said Doug Shaw, president and chief executive officer at Monotype Imaging. “By integrating our iType® font engine, WorldType® Layout Engine and fonts into Planetweb’s UI solution, we can provide unique value that allows OEMs and developers to differentiate their offerings, reduce time to market and broaden their products’ worldwide appeal.”
“Since 1996, Planetweb has been delivering new types of product experiences to people around the globe,” said Ken Soohoo, president and chief executive officer at Planetweb, based in Redwood Shores, Calif. “We look forward to building on our momentum as part of Monotype Imaging, which shares our vision for delivering engaging, highly interactive branded user interfaces and applications to devices in everyday life.”
Planetweb’s flagship product is its SpectraWorks™ software, a hardware- and OS-independent suite of technologies for developing embedded graphical user interfaces quickly and inexpensively. Licensed to OEMs, developers and designers, SpectraWorks enables the design of highly interactive UIs and applications for CE devices such as digital cameras, set-top boxes, high-definition DVD players and consumer appliances. Technologies from Planetweb are shipped across a variety of products annually from leading CE device manufacturers worldwide.
This press release may contain forward-looking statements, including those related to expected growth in Monotype Imaging’s offerings to manufacturers of consumer electronics devices, that involve risks and uncertainties that could cause the company’s actual results to differ materially. Factors that might cause or contribute to such differences include, but are not limited to: risks associated with changes in the economic climate, risks associated with the company’s ability to integrate the products, and risks associated with the company’s ability to integrate the acquisition. Additional disclosure regarding these and other risks faced by the company is available in the company’s public filings with the Securities and Exchange Commission, including the risk factors included in the company’s Annual Report on Form 10-K for the year ended Dec. 31, 2008, as amended, and subsequent filings. The financial information set forth in this press release reflects estimates based on information available at this time. While Monotype Imaging may elect to update forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so, even if an estimate changes.
About Monotype Imaging
Monotype Imaging is a global provider of text imaging solutions for manufacturers and developers of consumer electronics devices including laser printers, copiers, mobile phones, digital televisions, set-top boxes, navigation devices, digital cameras and software applications and operating systems. The company also provides printer drivers and color imaging technologies to OEMs (original equipment manufacturers). Monotype Imaging technologies are combined with access to more than 10,000 typefaces from the Monotype®, Linotype® and ITC® typeface libraries – home to some of the world's most widely used designs, including the Times New Roman®, Helvetica® and ITC Franklin Gothic™ typefaces. Fonts are licensed to creative and business professionals through custom font design services, direct sales or e-commerce portals. Monotype Imaging offers fonts and industry-standard solutions that support all of the world's major languages. The company is based in Woburn, Mass., with regional offices in the U.K., Germany (Linotype), Japan, China and Korea, in addition to U.S. regional offices in Mt. Prospect, Ill., Redwood City, Calif. and Boulder, Colo. Information about Monotype Imaging and its products can be found at www.monotypeimaging.com.
Monotype, iType and WorldType are trademarks of Monotype Imaging Inc. registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions. SpectraWorks is a trademark of Monotype Imaging Inc. and may be registered in certain jurisdictions. Times New Roman is a trademark of The Monotype Corp. registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions. Linotype is a trademark of Linotype GmbH registered in the U. S. Patent and Trademark Office and may be registered in certain jurisdictions. Helvetica is a trademark of Linotype Corp. registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions in the name of Linotype Corp. or its licensee Linotype GmbH. ITC is a trademark of International Typeface Corp. registered in the U.S. Patent and Trademark Office and may be registered in certain jurisdictions. ITC Franklin Gothic is a trademark of International Typeface Corp. and may be registered in certain jurisdictions. All other trademarks are the property of their respective owners. © 2009 Monotype Imaging Holdings Inc. All rights reserved.