Monotype Imaging Holdings Inc. (TYPE) Wednesday said that it acquired a privately-held Ascender Corp., for $10.2 million in cash and stock, net of acquired assets. The purchase price included $7.0 million in cash and $3.2 million in stock.
Ascender is a font provider for several leading brands including Google and Microsoft.
The acquisition enables Monotype Imaging to broaden its font intellectual property offerings and gain significant typeface design and development talent.
Commenting on the transaction, Doug Shaw, president and chief executive officer at Monotype Imaging, said, "We're excited to have Ascender on board, which reinforces our commitment to offer the world's best font solutions. Ascender brings to Monotype Imaging vast industry and design experience, well established customer relationships and the ability to solve challenging technical problems. Uniting our strengths will enhance our ability to grow our business and combine technology with design to help the world communicate."
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