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Monotype Imaging -- a provider of typefaces, technology and expertise for creative applications and consumer devices -- has acquired Design By Front, 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 US$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, says Doug Shaw, president and CEO of Monotype. 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. Fore more info go to http://typecast.com/monotype-acquires-design-by-front .