— the company behind such products as Suitcase, Portfolio Preflight Online and Preflight Pro — has been purchased by Celartem Technology USA Inc.
Extensis has been a wholly owned subsidiary of
since 2000. The company employs 66 people based in Portland, Oregon and the United Kingdom.
Celartem Technology has agreed to acquire Extensis for US$9 million in cash, with up to an additional $2.0 million due over the next two years if certain revenue targets are met. The sale represents an estimated gain of approximately $2.8 million to $3.8 million, to be recognized upon closing, probably this month. In the second quarter 2002, Extensis’ domestic and international product launches fueled a 14 percent growth in revenue over first quarter 2002 revenues.
Celartem sees “strong synergy” between their technologies and Extensis’ success with creative professional workgroups, according to Osamu Ikeda, president of Celartem USA.
Contingent on the closing of the deal, Extensis will maintain its existing management team as well as their operations in both Portland and the UK. Craig Keudell, currently general manager, will take on the role of CEO of Extensis, reporting to the Celartem USA board of directors.