France-based Armor, manufacturer of coating thermal transfer ribbons for barcode printing, will acquire thermal transfer ribbons (TTR) business and intellectual property (IP) of Iconex, a provider of receipt and label solutions. The two companies have also signed a global reseller agreement, under which Iconex will become a preferred global reseller for Armor and its TTR technology. Armor will fully integrate Iconex’s offerings and IP into its organization over the coming months. Terms of the transaction were not disclosed.
As part of the agreement, US-based Iconex has agreed to sell its TTR intellectual property, which includes the patented formula of all Iconex grades including Ultra-V. Iconex invented the paper receipt over a century ago, and today offers products including receipts, labels, printer supplies and other essentials. Armor has a manufacturing unit in USA since 2000. The acquisition of Iconex TTR business marks a new stage in Armor presence as a key TTR player in the US market.
“This 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,” said Hubert de Boisredon, chairman of Armor. “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.”
The global reseller agreement between the two companies allows Iconex to sell its TTR technology as an Armor preferred partner in several countries around the world. The partnership is built upon a clear alignment of corporate strategy and direction and allows Armor to fully leverage Iconex’s strength in the market. This preferred partnership becomes effective from 1 October 2018.
“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,” said Craig Gunckel, chief executive officer of Iconex. “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.”