The company announced yesterday that it has entered into a "definitive agreement to acquire CreativePro.com", which is a portal for the creative industry and a supplier of "e-services" and software tools. It is the parent company of the Extensis Products Group, which publishes software such as Portfolio and Suitcase.
ImageX.com provides e-commerce solutions for the printing industry - the recently-acquired PrintBid.com, for example, is an online bidding system for print buyers.
ImageX.com will buy CreativePro.com for $97.1 million, consisting of 4.3 million shares of common stock, and $9.9 million in cash. CreativePro.com will become a wholly owned subsidiary of ImageX.com and will continue to operate from its Portland, Oregon headquarters. The CEO Craig Barnes will stay in his position, and the 120 employees of CreativePro.com will become employees of ImageX.com. The deal is expected to be completed in early summer, subject to standard conditions.