- Kornit Digital Ltd (NASDAQ:KRNT) has agreed to acquire Germany-based company Tesoma for undisclosed financial terms.
- Tesoma is known for the engineering and performance of its cutting-edge textile curing solutions.
- This acquisition aligns with Kornit's strategy to add smart automation capabilities within its sustainable on-demand production solutions.
- The company expects to close the acquisition on or before April 1, 2022.
- Kornit Digital held cash and equivalents of $363.7 million as of September 30, 2021.
- "Digitizing the production floor is a key pillar of our strategy and the acquisition of Tesoma will allow us to continue accelerating on our mission to transform this industry, with innovative and sustainable, never-before-seen, on-demand textile production solutions," said CEO Ronen Samuel.
- Price Action: KRNT shares traded lower by 1.74% at $96.05 on the last check Tuesday.
