Visataprint (VPRT) is acquiring 97% of Pixartprinting, an Italian provider of web-to-print services for graphic design agencies, print sellers, and local printers, for €127M ($175M) up-front and up to €10M ($14M) in earn-out payments.
Pixartprinting has 330 employees and 100K+ customers, mostly in Italy, Spain, and France. It had 2013 revenue of €56M, and EBITDA of €15M.
Vistaprint says Pixartprinting's brand "remain distinct from Vistaprint in its value proposition and positioning," while benefiting from Vistaprint's scale. The deal follows one to acquire People & Print Group, a firm mostly focused on Dutch/Belgian clients.