Armor, a provider of coating thermal transfer ribbon (TTR) for barcode printing, has agreed to acquire the TTR business and related intellectual property (IP) of Iconex, which delivers receipt and label solutions.
Image: Armor seeks to acquire Thermal Transfer Ribbon Business and IP from Iconex. Photo: Photo by rawpixel on Unsplash.
Under the terms of the agreement, Armor will acquire Iconex’s TTR intellectual property, which includes the patented formula of all Iconex grades including Ultra-V.
Additionally, the firms have signed a global reseller agreement whereby Iconex will become a preferred global reseller for Armor and its TTR technology.
Armor expects the deal to significantly enhance its presence and service to US and worldwide TTR customers as well as strengthen the Iconex go-to-market strategy.
In the coming months, the firm is planning to fully integrate Iconex’s offerings and IP into its organization to ensure cross-pollination of product, people and support.
Armor chairman and CEO Hubert de Boisredon said: “Today’s news strengthens the industry by bringing together two long-time leaders in the TTR market – with storied histories in the market. The Iconex brand is well known for its product innovation and we are excited to merge with our existing technology to better service our customers.
“We are not only acquiring a market-leading technology, we are establishing an important reseller agreement with Iconex that will enable an extensive more robust go-to-market strategy for us and reinforce our market penetration in USA and around the globe.”
Armor is engaged in providing coating of TTR for printing on packaging and barcode labels. It also provides print consumables and coated films for the renewable energies market.
Iconex CEO Craig Gunckel said: “This strategic decision to sell our Thermal Transfer Ribbon Business and associated Intellectual Property will allow us to better focus on our strategy to become the world’s leading provider of receipts and innovative label solutions.
“We are also very excited to enter into a distribution agreement to become a reseller of the full line of Armor’s products and technologies, which now includes Ultra V.
“This partnership will allow us to better support our existing customers by offering an extended range of products and tools, which we believe will lead to growth for both Iconex and our customers.”