With 66 employees worldwide, Extensis has been a wholly owned subsidiary of ImageX since 2000. ImageX originally paid $97.1 million in cash and stock for Extensis, in a deal which at that time included its creative portal, CreativePro.com.
CreativePro was sold to US company, PrintingforLess.com in October, 2001. Terms of that deal were not disclosed.
Under terms of the deal announced yesterday, Celartem is paying $9 million cash (with $2 million more over two years, subject to meeting financial goals) for Extensis.
The stocks of former owner, ImageX stand at $0.25 per share at time of writing. Director Wayne Perry resigned from the company on Wednesday.
"The sale of Extensis enables us to focus on core-application services that enable corporations to increase their sales through more effective use of their marketing support," said Rich Begert, president and CEO of ImageX
At this time, it's believed Extensis will continue its US and UK operations, with no staff redundancies. The company's current general manager Craig Keudell becomes CEO, reporting to Celartem's board.