Benzinga | Jan 25, 2022 08:07AM EST

Kornit Digital To Acquire Tesoma; Terms Not Disclosed

Executing on strategic pillar of digitizing production floor with a smart, seamless, and sustainable end-to-end workflow

ROSH HA'AYN, Israel, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Kornit Digital Ltd. (NASDAQ:KRNT), a worldwide market leader in sustainable, on-demand, digital fashionx and textile production technologies, announced today that it has entered into a definitive agreement to acquire Lichtenau, Germany-based Tesoma.

Tesoma is globally recognized for the high-quality engineering and performance of its cutting-edge textile curing solutions. Tesoma's technology and solutions align with Kornit's strategy to add smart automation capabilities within its innovative, sustainable on-demand production solutions, empowering customers to improve productivity, optimize quality, and reduce the total cost of ownership--all in a more sustainable production environment.

"Kornit is writing the operating system for on-demand sustainable fashionx. Digitizing the production floor is a key pillar of our strategy and the acquisition of Tesoma will allow us to continue accelerating on our mission to transform this industry, with innovative and sustainable, never-before-seen, on-demand textile production solutions," said Ronen Samuel, Kornit Digital Chief Executive Officer. "We've been working with Tesoma's phenomenal engineering team on revolutionary product innovations and unique integration concepts, and I am very excited with our immediate and longer-term roadmap plans."

"We are excited to join the Kornit team and be an integral part of its journey to transform the fashion and textile industry. As partners, we have been working closely together with Kornit on innovative next-generation solutions and we are enthusiastic to join forces, as one team, and accelerate Kornit's mission to elevate the industry standard, with intelligent user functionalities and industry 4.0 connectivity," said Andreas Irmscher, Manager of Design Engineering at Tesoma. "Together, we will heighten the market's expectations for clean, efficient, automated on-demand production, with a fully integrated solution that yields a superior, brilliant impression every time."

The acquisition is expected to be completed on or before April 1, 2022, following the satisfactory completion of business transition and integration plans.