Armor, a global leader in TTR (thermal transfer ribbon) coating for printing barcode labels and packaging and based in France, recently announced it would acquire the intellectual property (IP) and TTR business of Iconex, headquartered in Cincinnati, OH. Iconex is a leading global supplier of label and receipt solutions.
Under a global reseller agreement the two companies signed, Iconex will become a worldwide reseller for Armor and its thermal transfer ribbon technology. While financial details of the acquisition were not revealed, reports state Iconex’s offerings and IP will be fully integrated into Armor’s organization in the coming months.
The partnership will fortify Iconex’s go-to-market strategy and create a focus on its core offerings while invigorating growth and enhancing Armor’s presence and service to TTR customers in the U.S. and around the world. Iconex offers products including printer supplies, labels, receipts and other low-cost label solutions in commerce and is the inventor of the paper receipt. Its thermal transfer ribbon IP encompasses the Ultra-V and all patented formula grades.
Armor CEO and chairman Hubert de Boisredon said the announcement of the acquisition strengthens the industry by bringing the two TTR market industry leaders together. Boisredon said Armor is excited about the opportunity to better service customers by merging the Iconex brand with their existing technology.
News reports state the preferred partnership between the two companies will come into effect on October 1st of this year.
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