i2S to Acquire a Majority Interest in KIRTAS TECHNOLOGI​ES

i2S announces that it has entered into a stock purchase agreement to acquire a majority interest in Kirtas Technologies Inc, based in Rochester, New York, USA. The world leader in robotic bound-document digitization systems, Kirtas will complement the i2s Scanning unit product line, its distribution network, its customer profile and its strong presence in the US market.

The alignment with Kirtas reinforces the i2S Scanning unit

By aligning products and services with Kirtas, both companies will benefit from immediate synergies:

  • The combined resources of the two companies makes them a leading player in the worldwide scanning market.
  • Increased market coverage through the combined distribution networks, geographical zones, market knowledge and customer profiles.
  • Increased depth and breadth of current and future scanning systems and software.

Future synergies in the high-potential market for content digitization

  • With this strategic investment in Kirtas, i2S acquires a position in the U.S. which will enable it to reinforce its approach to American libraries and forge new partnerships with digital content and Internet players.
  • The United States was the source of the major paradigm shifts in digital and Internet history and i2S will take advantage of advances by Kirtas and POLINUM, such as KirtasBooks.com, as part of its strategy to become a key player in the emerging market of digital asset development. i2S’ third-generation digital library Divvalib, launched in October 2010 by Amanager, could be integrated into KirtasBooks.com, the site created in 2009 to scan and circulate books in e-Pub format and provide on-demand printing. KirtasBooks.com has distribution agreements with a number of university libraries, making more than one million titles available via their Digitize-on-Demand model.
  • Republishing relationships with institutions such as Boston Public Library and with Barnes & Noble.

For more information, view the entire press release online here.

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