Monotype Imaging Holdings Inc. (NASDAQ: TYPE) said it has acquired Mark Boulton Design Ltd., a seven-person web design studio based in Cardiff, Wales, U.K.
Monotype acquired all outstanding shares of Mark Boulton Design Ltd. for approximately USD1.75m, including inducement awards of approximately USD1.0m in restricted common stock of Monotype Imaging Holdings Inc., which is subject to vesting over four years based on continued employment.
With the acquisition, Monotype gains recognized expertise in web design and web publishing, markets that have been identified as strategic to the company´s growth objectives. Employees of Mark Boulton Design will continue to work from their current locations.
Monotype is a leading global provider of typefaces, technology and expertise that enable the best user experience and ensure brand integrity. Based in Woburn, Mass., Monotype provides customers worldwide with typeface solutions for a broad range of creative applications and consumer devices. Its website is at www.monotype.com.