Both existing and new investors participated in the private placement. The net proceeds from this offering will be used to repay outstanding debt, for working capital, and for general corporate purposes. This is a strategic investment for Creo. We believe that printCafe is the only integrated eCommerce and eProduction solution in the printing industry that provides value to print buyers, printers and print industry suppliers, said Mark Dance, Executive Vice President, Creo Products Inc. and President of CreoScitex. This includes being able to specify any type of print project, obtain estimates, manage B2B transactions, monitor ERP information, set up all stages of the production process, and track the status of a project in real time.
Users can also manage invoicing and report on a broad range of performance summaries and analyses.
Services and applications are designed for a wide range of print projects from complex magazines and books to smaller projects such as collateral materials and business cards. More than 7,000 print buyers and printing facilities worldwide, including 19 of the 25 largest publications and commercial printers in North America use printCafe s software applications. In addition, more than 430 companies have generated or responded to print RFQs using printCafe s eCommerce solution since it was introduced in spring 2000. Through CreoScitex its principal operating division Creo is leading the digital transformation of the graphic arts industry. Creo Products Inc. Other products may be the registered trademarks or trademarks of their respective companies.