by , 12:05 PM EDT, August 24th, 2007

X-Rite announced on Friday that it has entered into a definitive agreement to buy Pantone for US$180 million. X-Rite is known for its color measurement and matching products, and Pantone is recognized as a world leader in color design and is also the creator of the industry standard Pantone Matching System, or PMS.

X-Rite and Pantone Join Forces

Pantone's PMS products have become the standard in many printing and publishing companies for color matching and selection. The company has also branched out to offer color standard products to other industries including Web design and textiles.

Tom Vacchiano, X-Rite CEO commented "This iconic brand is the perfect complement to X-Rite's business bringing Pantone's expertise and market position in color communication and standards to our color solutions product offerings."

Pantone and X-Rite have been collaborating for the past two years, and have released joint products including the huey and hueyPRO monitor calibration devices.

The two companies plan to close the deal in fall 2007.