Big News for Printcafe

Selected by Inc magazine as growth leader, acquires printChannel

Pittsburgh  October 31, 2002  Printcafe Software Inc., the operating system for print, was named by Inc magazine as one of America's entrepreneurial growth leaders. The magazine this month released its 2002 Inc 500 ranking of the nation's fastest-growing private companies.

Printcafe was ranked No. 243 with 927 percent growth in the past five years, making it the fastest growing software company serving the graphic arts industry. Inc said it verifies all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.

"This is the first Inc 500 ranking to reflect the full impact of the recession," said Inc editor John Koten. "Yet these entrepreneurs are managing to confound the naysayers and move ahead despite the obstacles. They're showing that smart strategies can succeed even in the toughest of times."

Additionally, the company announced that is has completed its acquisition of substantially all the assets and intellectual property of printChannel, Inc., which was a provider of Web-based print procurement solutions to manufacturers, distributors, and brokers of commercial print.

Originally headquartered in San Francisco, Calif., with offices in the U.S. and Europe, the printChannel system is currently used by over 100 commercial printing organizations who, in turn, have set up over 1,200 corporate end users and of thousands of catalog print items for online ordering.

Printcafe said it will not assume any printChannel obligations or liabilities other than in connection with certain customer contracts. While terms of the acquisition were not disclosed, the company said it does not anticipate the transaction will have a material impact on its pro forma fourth quarter financial results.