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Benzinga
Benzinga
Business
Akanksha Bakshi

Kornit Digital To Acquire Germany-Based Tesoma For Undisclosed Sum

Kornit Digital Germany
  • Kornit Digital Ltd (NASDAQ:KRNT) has agreed to acquire Germany-based company Tesoma for undisclosed financial terms.
  • Tesoma is known for the engineering and performance of its cutting-edge textile curing solutions.
  • This acquisition aligns with Kornit's strategy to add smart automation capabilities within its sustainable on-demand production solutions.
  • The company expects to close the acquisition on or before April 1, 2022.
  • Kornit Digital held cash and equivalents of $363.7 million as of September 30, 2021.
  • "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 CEO Ronen Samuel.
  • Price Action: KRNT shares traded lower by 1.74% at $96.05 on the last check Tuesday.
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