Schmit, one of the world’s largest digital print printing companies, announced today that it has been acquired by digital print giant Amazon.
The deal will provide Amazon with more than 20% of Schmitzes digital printing business, as well as a 10% stake in its Digital Printing Group.
Schmitze CEO John Schmittz, who will continue to run the company and serve as its chief operating officer, will continue in his role as CEO and chairman.
The acquisition price is expected to be in the $2 billion range.
“The digital printing industry is growing rapidly,” said Schmitzer CEO John Schrumpf.
“Schmitz was founded in 2014 by a team of technology experts and we believe that we have the potential to be a leader in the digital printing market, and are excited to work with Amazon.”
The purchase of Schmidz by Amazon will bring more than 10 years of digital printing experience to the company.
“Amazon has a proven track record of building great businesses around Amazon Prime,” said Amazon CEO Jeff Bezos.
“We’re excited to add the digital print business to the team, which is growing and has a lot of exciting future opportunities.”
Schmitza has over 300 print businesses, including many print products in a variety of industries, including furniture, electronics, home appliances, and consumer electronics.
Its print services include furniture and household appliances, digital signage, video and audio recording, print packaging, and the online printing of books and magazines.
Digital printing has also grown in recent years, with digital-only printers accounting for nearly two-thirds of the industry’s printing output.
The Schmitzo digital printing group has offices in Los Angeles, San Francisco, New York, Chicago, London, Paris, Amsterdam, and Shanghai.
Schmetzer also operates a printing service in India called The Digital Print Service.
Schmittz Digital printing will continue as an independent subsidiary of Schmetz Printing Group, which will continue operating its print operations.
The transaction is subject to regulatory approvals.