Monotype Imaging Holdings Inc. TYPE +0.88%, a leading global supplier of text imaging solutions, today announced it has concluded its achievement of Bitstream Inc.’s font business in an all cash merger valued at approximately $50 million, subject to adjustments based on the closing net asset value of the company.
In the mission is to be the first place to turn for typefaces, technology and expertise that enable the best user experience and ensure brand reliability regardless of device, platform or language. We’re eager to welcome Bitstream’s team of experts to Monotype Imaging — professionals who care as passionately about type as we do.
Monotype Imaging’s global reach and economic strength, united with Bitstream’s strong online font store and OEM business, position Monotype Imaging to serve broader markets, while addressing a wider range of customer needs. The achievement is expected to make stronger Monotype Imaging’s products and services, while providing customers with improved choice and flexibility.
Included in the achievement is the popular MyFonts.comsm website, featuring 89,000 fonts from nearly 900 foundries, in count to the widely used WhatTheFontsm identification service. The transaction also includes the Bitstream typeface library, the company’s Font Fusion and Bitstream Panorama font rendering and layout technologies, a range of fonts for surrounded and mobile environments, and 10 patents. Thirteen employees from Bitstream’s U.S. operations, in addition to 42 Bitstream engineers and type designers who work in Noida, India, are joining Monotype Imaging, providing the company with an extended global presence.