Kornit Digital has signed an agreement to acquire Lichtenau, Germany-based Tesoma, a manufacturer of textile dryers and industrial machines. The financial terms were not disclosed.
|Tesoma's plant in Lichtenau, Germany|
“Kornit is writing the operating system for on-demand sustainable fashionx," said Ronen Samuel, CEO of Kornit Digital, a manufacturer of textile printing technology. "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.
"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.”
Tesoma’s Andreas Irmscher, manager of design engineering, said: “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.
"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 completion of business transition and integration plans.
More than 1,800 Tesoma dryers have been installed around the world.
Kornit Digital (NASDAQ: KRNT) is a market leader in “on-demand, digital fashionx and textile production technologies.” Headquartered in Israel with offices in the USA, Europe, and Asia Pacific, Kornit Digital serves customers in more than 100 countries and states worldwide.