Monotype Imaging Holdings Inc. (Nasdaq: TYPE), a leading provider of typefaces, technology and expertise for creative applications and consumer devices, has acquired Design By Front Limited, developers of the Typecast™ application, a browser-based tool for designing Web pages with Web fonts.
Monotype acquired all outstanding shares of the privately-held, 14-person firm based in Belfast, Northern Ireland, for up to $5.1 million in cash. Monotype paid $2.6 million in cash upon closing, with an additional $100,000 accrued pending final adjustments, with the remainder to be paid contingent on attainment of certain performance criteria through 2014.
The acquisition is expected to enhance Monotype’s product offering, add complementary skill sets to the company’s creative expertise, and strengthen Monotype’s growth businesses, particularly in Web font services.
“Typecast fits neatly into our strategy of adding IP that complements our solutions and provides meaningful value to customers,” said Doug Shaw, president and chief executive officer of Monotype. “The Web has become a critical publishing platform, where brands need to represent themselves with clarity and consistency across connected devices. As a typographic design tool, we believe Typecast has the potential to take Web fonts to a whole new level of productivity and creative expression. We’re excited to welcome the Typecast team and to add this innovative technology to our solutions portfolio.”“Good typography is essential for Web design. That’s the fundamental idea behind Typecast,” said Paul McKeever, managing director and co-founder of Design By Front. “We created Typecast simply to make it easier to work with Web fonts, and to give Web designers precise typographic control to make the Web a more beautiful, readable place. We look forward to bringing to the Web design community a powerful application that’s actually easy and fun to use.” Employees of the newly acquired company will continue to work from their current locations, with the Belfast office serving as the main development hub for Typecast.
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